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Philippines: Ford sees further growth despite higher auto tax
MANILA, Philippines — The local unit of American automotive brand Ford Motor Co. hopes to sustain throughout 2018 the growth it has so far enjoyed this year amid the slowdown currently plaguing most players due to the implementation of higher excise taxes on automobiles.
Ford Philippines managing director Bertrand Lessard said the company is off to a good start as it recorded a 14 percent year-on-year sales growth in the first two months of the year.
“I think we can (maintain the growth). There may be a bump, but I think we can,” Lessard said.
“The excise tax does not stop the industry. It changes it a bit in a way, but it does not stop the industry,” he added.
Ford Philippines finished 2017 with a nine percent sales growth.
With the new tax reform law, which includes higher excise taxes on automobiles taking effect this year, most automotive players have taken a conservative stance on their sales forecast for 2018.
Ford, however, intends to attract more customers this year with brand new vehicles it is set to launch.
Ford currently has eight models in its portfolio in the country, with the Everest as its bestseller, followed very closely by the EcoSport and the Ranger.
The company launched last week the all-new Expedition and the new Mustang, two models seen to further help the company in achieving its sales target this year.
“The all-new Expedition delivers an even more luxurious drive, with a suite of new features and power that will provide our customers with more control, while ensuring their families are safe on the road,” Ford Philippines marketing and sales vice president Rodel Gallega said.
The Mustang, meanwhile, will be available in four variants, including the sporty Mustang convertible for the first time in the Philippines.
“The Mustang is full of history and heritage and its updated design, performance enhancements, and new innovative features will give Mustang fans something to really get excited about,” Gallega said.
https://www.philstar.com/business/2018/04/11/1804676/ford-sees-further-growth-despite-higher-auto-tax#iaYHo1tYf6p2TI2F.99