Nissan PH Closes 2018 with 40% Growth Led by Nissan Navara
Nissan Philippines, Inc. (NPI) closed 2018 on a high note as it sold 34,952 vehicles for the year, registering a 40-percent growth in the process--the only brand to reportedly post a double-digit growth for the past year even after the higher excise taxes brought on by the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the rising inflation, and subsequently, the oil price hikes that affected the local economy throughout the year. In addition, according to the Chamber of Automotive Manufacturers of the Philippines (CAMPI), Nissan currently holds an 8.7-percent share of the automotive market. Leading the charge for NPI's 2018 sales was the Nissan Navara as the midsize pickup truck contributed 46.2 percent of the sales in the Philippines while the Nissan Terra, introduced regionally--and locally--in May accounted for 11.9 percent. Other models that performed well for NPI last year are the Nissan Urvan and Nissan Almera, contributing 19.5- and 17.5-percent, respectively.
Pressed for specifics, NPI President and Managing Director Ramesh Narasimhan told CARMUDI PHILIPPINES that the Navara averaged around 1,200 unit sales per month for 2018 while the Terra averaged around 600 units per month--a remarkable number given it's still quite new to the local market. For 2019, NPI sees its core products as the key to achieve another record-breaking year. "To change the game, we have to stick to our fundamentals," said Narasimhan in a statement. "With what we have achieved last year, we can now look forward to dreaming bigger for 2019." We can certainly toast to that.