Isuzu Philippines Corp. plans to expand the sales of bus units in the Philippines and increase their share in the total business portfolio to as much 50 percent.
Isuzu Philippines president Hajime Koso said the company aimed to strengthen its presence as provider of quality brand new buses.
“We recognize the need for more reliable and safe buses. The bus segment remains a growth area in the Philippines,” he said Monday night in welcome ceremonies held at the Solaire Resorts and Casino in Pasay City.
Koso will replace Nobuo Izumina as Isuzu president, who will be assigned as the director of Isuzu Body Corp., an affiliate of Isuzu Motors Ltd.
Koso noted most buses in the Philippines were either second-hand or surplus units.
About 28,000 buses are registered with the Land Transportation Office, including 6,000 to 7,000 brand new units.
Isuzu controls 60 percent to 70 percent of the brand new bus market in the Philippines. The company plans to sell 4,000 bus units this year. Aside from building trucks and SUVs, Isuzu has a thriving chassis modification business in the Philippines.
Isuzu sales in the first four months of 2015 grew 62 percent. The Mu-X line-up posted sales of over 3,000 units.
The 57-year-old Koso has been working for Isuzu Motors for 35 years, handling mostly sales and overseas operations. He was most recently the president of Isuzu Motors Kyusyu Ltd.
“The Philippine automotive industry is slowly setting up its pace. In the past two years, the country’s record for automotive sales has seen a significant growth, which is probably due to the overall growth of the economy,” he said.
