Isuzu investing P1b in Laguna
A unit of Isuzu Philippines Corp., the authorized distributor of Isuzu vehicles in the country, is investing P1 billion in a facility that will manufacture two auto components at Laguna Technopark in Biñan, Laguna, the Philippine Economic Zone Authority said Monday.
Isuzu Autoparts Manufacturing Corp. will spend P765 million for the production of MVL transmission units and P235 million for the production of trunk case cover.
“There has been a lot of expansion lately even for automotive parts manufacturers. It’s good that they are maximizing the value of their investments in the Philippines. We hope to hear more of this kind of good news,” said Peza director general Lilia de Lima said.
Isuzu Autoparts said the investment would generate 45 new jobs and add $200 million to its annual export revenues.
The company currently manufactures and assembles transmission units of Isuzu vehicles.
Meanwhile, Isuzu Philippines emerged as third biggest car company in terms of sales this year, next to Toyota Motor Philippines and Mitsubishi Motor Philippines Corp.
Industry sales report showed the company sold 14,213 vehicles in the first eight months of 2015, or 69 percent higher than a year ago. The figure also exceeded its full-year sales of 14,134 units in 2014.
“While the automotive industry in the country has experienced an 11-percent drop on the commercial vehicle segment last month, Isuzu remained strong and showed a positive outcome in terms of sales,” said Isuzu Philippines president Hajime Koso.
Isuzu sold 1,896 units in August, with the flagship vehicle Isuzu mu-X leading the models with 880 units.
Isuzu Crosswind AUV and D-Max pick-up truck also showed steady growth, selling 330 and 291 units respectively, in August.
Isuzu also maintained its top position in the Category III light-duty trucks last month, with total sales of 261 units.
Isuzu also sold 134 units each of Category IV and V, referring to medium to heavy-duty trucks.