In the midst of the COVID-19 pandemic where every country in the world has been hit hard, it’s no surprise that automakers have begun doing rapid changes within the way they’re being run.
Even worse for countries like the Philippines, where constant layoffs, lack of a proper food supply, an increasing number of cases and where constant community lockdowns have been going on and ravaging the island nation.
As all this had begun to unfold around the Philippine giant, Quezon Motors has announced the discontinuation of its fairly recent Princesa Coupe-GT grand tourer following slowing sales amidst the pandemic and rising operating costs of keeping its assembly plant running as all this is happening.
Quezon reported a loss of over 1.07B PHP, or over $221 Million Dollars in operation costs keeping the plant afloat as sales of the only car being built there dwindled, and without any local government aid it is likely that Quezon will have to make all of this back themselves.
Thus, Quezon has announced that the Princesa Coupe-GT will officially be discontinued following the 2020 model year, and subsequently the shutting down of the Rizal Assembly Plant in Antipolo City run by over 5,000 Filipino and other overseas employees working at the plant to assemble the exotic tourer.
Sales figures for the Coupe-GT were never particularly strong, with Quezon themselves reporting sales of just over 100 cars every year. These low sales figures however, actually exceeded the company’s expectations, as they originally had only planned on selling at least 50 a year. But amidst the pandemic and the very likely chance of a future global recession, the Coupe-GT’s sales dwindled down from the past six months to less than 20 models sold worldwide.
Luckily for the company however, history is likely not to repeat itself, as with the announcement of the new Sierra Madre, and a proposed facelift for the Custom Built SUV lineup, Quezon is expected to make back this loss within the second half of next year.
COMMENTS (3)
@Executive | 7:14 AM
Oh, well that’s sad. I mean, where else could you get a handcrafted, 10-litre naturally aspirated V10-powered grand tourer like this? No where! Though you could ask some Russian guys in a shed to make one… Oh, I see now.
★ 12
@Falling_Comet | 12:33 PM
Hahaha, damn… that was incredible, totally expected, this is the reason why you should get a Suisei instead, literally!
★ 9
@That-S-cop | W∀ 00:0Ɩ
Alternately, instead of this technobuzzy filled car, for a similar amount of money you can get another Foreign car that’s easier to service, does similar performance, and won’t fry a computer when you have to carry little Jimmy around in the back and he chunders.
★ 8