Jose Altoveros / Maxus | October 02, 2018 11:13
A new Chinese brand will soon enter the market courtesy of Ayala Corp.
Currently, the Ayala Corporation manages a number of dealerships from various manufacturers located all over the country. They are also is the official distributor of Volkswagen and KTM brands in the Philippines. Now, the conglomerate will be further expanding its portfolio by as they will soon be bringing in the Maxus into the Philippines.
Maxus, a wholly owned subsidiary of SAIC Motor Corp, has appointed AC Industrial Technology Holdings Inc. (AC Industrials) which is owned solely by Ayala Corporation, as the official distributor of Maxus vehicles in the country. Maxus will be the fifth motoring brand under the Ayala Corporation. This also marks the first time the conglomerate will be selling vehicles from a Chinese automaker.
Under SAIC Motor, Maxus has a model line-up comprised mostly of light commercial vehicles (i.e. pick-ups, SUVs, vans, etc.). After launching in 2011, the Chinese automaker has grown its sales to 70,000 vehicles in 2017 across three major model lines. 10,000 of those vehicles were exported outside of China.
Meanwhile, SAIC, a Fortune Global 500 company, sold 6.93 million vehicles in 2017, mostly in China. This accounts for 23-percent of the world's largest automotive market. Aside from Maxus, it also carries 15 other major brands including joint ventures with Volkswagen and General Motors.
Ayala Corp. hopes to strengthen and diverisfy its portfolio with the addition of the Maxus brand in the market 'in alignment with evolving Philippine market preferences'. According to the disclosure, the Ayala Group believes that Filipino buyers have a preference for the light commercial segment, hence the introduction of Maxus into the country.