ISUZU Philippines Corp. (IPC) posted 7.3 percent growth in sales in the first six months of the year driven mainly by brisk demand for its Commercial Vehicle (CV) units, a top company official said.
“We believe that as the year progresses, the buying power of Filipinos would also grow. This is also an indicator of the positive outlook Filipinos have based on sales trend in the automotive industry, which begins to grow drastically as it draws near to the final months of the year,” IPC President Hajime Koso said in a statement on Thursday.
According to a combined report released by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA), Isuzu sold 14,225 units from January to June this year compared to 13,258 units in the same period in 2016, reflecting a 7.3-percent increase.
The same data also showed that Isuzu placed third in the top-selling brands for the CV segment on a month-on-month basis, after selling 3,097 units in June this year versus the 2,650 units sold in May, translating to 16.9-percent growth.
In the light commercial vehicle category, the company said it sold 2,292 units of its Isuzu D-MAX pickup, a 20.8 percent boost from the 1,897 units sold in the first half last year and accounting for 12.6 percent of the market in January-June 2017.
Month on month, Isuzu said it delivered 469 DMAX units in June 2017 compared to the 435 units sold in May, taking a 13.4 percent of the total pickup category.
Sales of their flagship model, the Isuzu mu-X, rose 2.5 percent to 6,453 units in January to June this year from the 6,297 units sold in the comparable period last year. June sales for the mu-X grew 16.6 percent to 1,453 units from 1,246 units sold in May.
Sales in the trucks segment grew 18.2 percent in Category III for their NHK and NKR, taking a 50.3 percent share of the market, while sales for Category IV vehicles soared 33.6 percent year-to-date.