By James A. Loyola
AC Industrial Technology Holdings, Inc. (AC Industrials), a wholly-owned unit of Ayala Corporation, has been appointed by SAIC Maxus Automotive Co., Ltd. (Maxus) as the official distributor of Maxus vehicles in the Philippines.
In a disclosure to the Philippine Stock Exchange, Ayala said Maxus is a wholly owned subsidiary of SAIC Motor Corporation Limited (SAIC), with an emerging portfolio focused on light commercial vehicles.
Launched in 2011 after SAIC’s acquisition of the LDV brand, Maxus has grown its sales to 70,000 vehicles in 2017 across three major model lines, exporting over 10,000 in the same year.
“The addition of Maxus will strengthen and diversify AC Industrials’ portfolio of product offerings in alignment with evolving Philippine market preferences,” Ayala said.
It noted that, “as incomes and productivity have grown, Filipino automotive buyers have increasingly gravitated toward the light commercial vehicle segment, which offers greater utility, flexibility to accommodate a wide range of business and lifestyle needs, and improved comfort and drivability.”
A Fortune Global 500 company, SAIC sold 6.93 million vehicles in 2017, primarily in China, representing 23% of the world’s largest automotive market. It carries 15 major brands, including leading joint ventures with Volkswagen and General Motors.
Maxus will be the fifth vehicle brand under AC Motors, AC Industrials’ automotive and distribution group. AC Motors distributes the Volkswagen and KTM brands in the Philippines and manages 26 dealerships in the country across Honda, Isuzu, Volkswagen, and KTM.