The implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) act led to massive price increases for vehicles across the board, and the local automotive sales industry as whole took a considerable beating. Still, there were bright spots here and there, and Foton Motor Philippines (FMPI) counts itself among the lucky ones.
While many major brands saw losses, FMPI actually managed to boost its commercial vehicle (CV) segment, becoming the third best-selling truck brand in the country and 9th bestselling brand overall for the year 2018.
Foton edged out Chevrolet to bag ninth spot in total vehicle sales. It trails only Isuzu and Hino, first and second placers respectively, in the truck sales category.
“Of course, we hoped for something big for 2018. Although, we did not expect to obtain something as big as being capable of leaping two ranks ahead versus our previous year’s standing in the overall automotive sales,” said FMPI President Rommel Sytin.
“Last year, I asked my team if getting into the top 10 auto brands is feasible. Sabi nila, kayang-kaya . And true enough, we were able to deliver. I am beyond grateful because my vision for Foton is now turning into reality,” Sytin shared.
Combining sales numbers in both the passenger and commercial vehicle segments Foton sold 4,141 units in total, breaking through 1.04 percent of the market. Prior to 2018, Foton did not even hit 1 percent, according Sytin.
Now that it has built some momentum, Foton plans to capitalize on it until the end of the year. The Chinese automotive brand opened a dealership in La Union and Palawan in the recent months, with plans to open more within the year.
“We will provide more mobility solutions as the Philippines is set to experience the second coming of the industrial revolution with the implementation of the Build, Build, Build program which means that there will be an increasing demand for commercial trucks,” added Sytin.