Red Ocean Strategy Wuling Formo Max, Newcomer to the Pickup Market , Wuling Motors is strengthening its business portfolio in Indonesia. This time, Wuling is expanding its business in the commercial vehicle segment through Wuling Formo Max. Entering the B segment commercial vehicle market, Wuling Formo Max deploys a red ocean strategy .
Yes, this segment can be called the red ocean market because it is quite widely known, quite bloody because there are many players who have been around for a long time with a high level of competition.
Here, many players compete, say, Suzuki Carry, Daihatsu Grand Max, Mitsubishi L300, Isuzu Traga, or DFSK Super Cab.
“The B pickup market is very mature and very popular in Indonesia for a long time. This segment is able to contribute more than 40% of the total commercial vehicle market in Indonesia,” explained Dian Asmahani, Brand and Marketing Director of Wuling Motors during the Formo Max launch event in Jakarta, Tuesday (17/01/2023).
Even though it is considered a red ocean market , Wuling believes that opportunities in this market are still wide open. “We see that the pain point in this segment is that there are several features that are considered by most players as mere ‘ nice to have ‘ factors, such as AC, Power Steering and Power Window. Maybe the market has gotten used to the absence of these features,” said Danang Wiratmoko, Product Planning Wuling Motors.
From here, Wuling Formo Max comes with several features to answer the pain points of pickup consumers. Hopefully, when they bring these features, will be a competitive advantage.
Carrying the tagline “ Easy to Make Profit ”, Formo Max brings three competitiveness. First , aspects that make the business world profitable with a wider range of cargo. Overall, Formo Max has dimensions of 5,135 x 1,725 x 1,740 mm with a wheelbase of 3,160 mm. As for the size of the cargo, this car has dimensions of 2,695 mm in length and 1,725 mm in width plus a three-sided tailgate opening for practical access in and out of loads.
This dimension is claimed to be 10% -20% larger than competitors in the same segment. Regarding the carrying capacity, Formo Max can answer the maximum carrying capacity according to government regulations, which is up to 1 ton of cargo.
Second , the comfort factor in the cabin by presenting electric power steering, air conditioning, head unit with Bluetooth connection, seat belts and power windows . Third , the car produced by the Cikarang factory, West Java, has an engine position at the front. The driver’s seat has become more comfortable.
This car is also supported by braking technology Anti-lock Braking System (ABS) , Electronic Brake-force Distribution (EBD) security system, Anti- theft alarm.
“These features for us are not only a trend for consumer vehicles but also the time has come for the commercial segment,” said Danang.
Regarding performance, the Formo Max is powered by a 1,500cc 4-cylinder engine with 98 hp and 140 Nm of torque. This power is channeled through a 5-speed manual transmission.
Not only product features, Formo Max is also equipped with after-sales service with Wuling Confero DNA, namely affordable maintenance costs and spare parts. This service is integrated with 150 Wuling dealers throughout Indonesia.
Regarding price, Wuling Formo Max comes with two variants, namely Formo Max Standard and Formo Max AC. Both are priced at IDR 162 million and IDR 170 million respectively (OTR Jakarta) with a choice of black, white and silver colors.
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Tantangan brand equity
Danang admits, in this segment, the big name of a brand greatly influences consumer buying decisions, especially the consumer segment in out-of-urban areas. Consumers tend to use familiar brands. Consumers in this area are also quite “talkative” with what their neighbors buy.
To answer this, Wuling targets the urban market segment first before entering into larger areas. With the emergence of consumer confidence in the urban business segment, Wuling’s brand equity is getting stronger to target market segments in a wider area.
“We are also targeting a fairly even market for the Greater Jakarta area, West Java, Sumatra, Kalimantan and Sulawesi. This market will be a new segment for us but also the company’s foundation in waging a better 2023,” concluded Dian