Vehicle sales up 51%

Car and truck makers in the Philippines started the year on a high gear, with a surge in sales in the first month that was driven mainly by a higher market uptake of passenger cars.

The Chamber of the Automotive Manufacturers of the Philippines Inc. (Campi) and the Trucks Manufacturers Association of the Philippines (TMAP) are optimistic of their sales prospects this year, as sales in January exceeded expectations with a 51-percent growth.

January sales, based on the combined figures of Campi and TMAP members, reached 12,256 units, up from the 8,127 units sold in the same month last year.

Toyota Motor Philippines Corp. accounted for 38 percent of sales, followed by Mitsubishi Motors Philippines with 23 percent, Honda Cars Philippines with 11 percent, Isuzu Philippines Corp. with 6.8 percent and Ford Philippines with 6.7 percent.

Industry data also indicate that the passenger car segment led the year’s opening sales with a 98-percent growth to 4,161 units from 2,099 units in the same month in 2012. Share of passenger cars also increased to 34 percent of total January 2013 sales from 26 percent a year ago.

The commercial vehicle sector, which accounted for 66 percent of total sales,  also registered a 34-percent increase to 8,095 units from 6,028 units in the same month last year.