Car, truck makers report 42% jump in Jan-Feb salesBy Riza T. Olchondra
Philippine Daily Inquirer
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Trucks Manufacturers Association of the Philippines (TMAP) on Monday reported a 42-percent surge in sales in the first two months of the year to 26,588 units from 18,718 units in the same period last year, with Toyota maintaining its top spot.
Industry data highlighted the 69.6-percent growth for the passenger car segment to 8,740 units in January and February this year from 5,153 units in 2012. The commercial vehicle sector, which accounted for a 72.47-percent market share, likewise posted a 31.6-percent jump to 17,848 units from 13,565 units in 2012.
The trucks and buses segments also recorded a year-to-date jump of 65.1 percent compared to the same period in 2012 as the local economy was boosted by real estate projects, construction and other infrastructure developments.
February sales alone were “quite remarkable,” the industry groups said, as total sales volume hit 14,332 units, up 35.3 percent from the January level. Passenger car sales increased by 50.1 percent with 4,574 units sold while commercial vehicle sales were up 29.4 percent at 9,758 units.
Toyota Motors Philippines Corp. led the pack in year-to-date sales with a share of 39.9 percent, followed by Mitsubishi Motors Philippines with 24.1 percent, Honda Cars Philippines with 9.9 percent, Isuzu Philippines Corp with 6.6 percent and Ford Philippines with 6.3 percent.
“This steady growth in 2013 is a direct result of the continuous robust economy with the increased purchasing power among household and private sectors coupled with continuous inflow of private investments and government’s spending on infrastructure,” Campi president Rommel Gutierrez said.
Meanwhile, the coming Holy Week will see members of Campi participating in a program to aid local travellers as they make their annual pilgrimage to religious sites, visit their hometowns or go on vacation. It said the so-called “Ka-Campi Motorists Assistance Program” was a collective effort of the industry group’s members “that will provide professional, fast and efficient assistance to the public during roadside emergencies.”
Short URL: http://business.inquirer.net/?p=112881