MANILA, Philippines–Isuzu Philippines Corp. is looking to capture a bigger share of the truck market, particularly in the heavy duty category, with the introduction of two new models in the local market.
At the formal launching on Wednesday, IPC unveiled the P5.6-million CYZ dump truck and the P7.5 million EXR fuel tanker, which are expected to increase the company’s market share in the Category V trucks to as much as 60 percent next year from the current 20 percent. Both models are 33-tonners.
Joseph Bautista, assistant sales division head at IPC, said these two truck models, which IPC began selling last year, are being imported from Japan at zero duty under the Philippines-Japan Economic Partnership Agreement (Pjepa).
According to Bautista, the target is to sell as many as 200 units a year to become the market leader in the Category V (trucks weighing over 15 tons) segment.
“The past few years have shown a tremendous increase in the sales of trucks and buses, with growth rates going past 30 percent not only for Isuzu, but for the entire auto industry,” noted IPC president Nobuo Izumina. “It is no coincidence that during this period, we also saw the growth of the economy, placing the Philippines among the strongest-growing economies in Asia. This is proof that the truck and bus segment plays a key role in nation-building. Isuzu rises to this challenge by providing world-class trucks and buses that are suited to the needs of all Filipino businesses.”–Amy R. Remo