Nissan closes 2018 with 40 percent growth despite challenging market conditions

Despite higher excise tax, rising inflation and increasing fuel prices, Nissan achieved double digit growth in the Philippines.

Nissan wants to make history

Nissan closes 2018 with 40 percent growth despite challenging market conditions

2018 saw a significant rise in prices in all industries because of the new excise tax, the bloating inflation, the rise of the USD dollar against the Philippine Peso which resulted in higher fuel prices.

Nissan Philippines President and Managing Director, Ramesh Narasimhan

These concerns poised a challenge for the different brands in motoring for the Philippine market except for one, Nissan. The Japanese automaker was the sole player to gain double digit growth of a whopping 40 percent that gained the brand 8.7 percent market share. This was because of the 34,952 units sold in 2018.

46.2 percent of these sales were from the Nissan Navara Pick-up. This is of no surprise as Pick-ups actually gained a tax cut as opposed to an increase in tax like other vehicle categories. 

The Nissan Terra that we covered on this link here made up 11.9 percent of sales since its launch last May 2018. The Almera contributed 17.5 percent while the Urvan garnered 19.5 percent of sales.

In the Thanksgiving event held for the Media, Nissan Philippines President and Managing Director Ramesh Narasimhan said  “To change the game, we have to stick to our fundamentals. With what we have achieved last year, we can now look forward to dreaming bigger for 2019,” 

Have you felt the effects of inflation and rising costs? Have you done anything to remedy it? Tell us in the comments below.