Vehicle sector posted new sales record in Nov.
The Philippine automotive industry posted a record high monthly sales of 21,422 units in November, given the continued strong performance of both the passenger car and commercial vehicle segments.
This reflected a 34.6-percent increase from 15,917 units sold in the same month last year, data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) showed.
“The growth is attributed mainly to new models introduced, aggressive promotional activities and increasing consumer demand,” Campi said in a statement.
Cumulative vehicle sales by Campi and TMA members from January to November rose by 30 percent to 213,427 units, driven by the surge in demand for passenger cars.
Data showed that sales of passenger cars rose by 50 percent to 82,437 units in the first 11 months of 2014 from only 164,098 units a year ago. Sales of commercial vehicles grew by 20 percent to 130,990 units in the same period from 109,132 units a year ago.
The steady rise in vehicle demand and sales is expected to continue until yearend, according to Campi.
“For December, we are expecting to have stable to higher sales with the anticipated high demand,” said Campi president Rommel Gutierrez.
As of the end of November, Toyota Motor Philippines Corp. (TMP) retained its market leadership with a 45.4 percent share in total vehicle sales or 96,787 units, followed by Mitsubishi Motors Philippines Corp., with a 21.4 percent share at 45,760 units and Ford Motor Co. Phils. Inc. with an 8.6 percent share or 18,438 units.
Isuzu Philippines Corp. displaced Honda Cars Philippines Inc. in the the fourth position with 5.9 percent (or 12,644 units). Honda sold 12,027 units or 5.6 percent of the total.
Vehicle production and sales are expected to further increase in the next several years, with the expected issuance by the government of a new automotive roadmap.
The proposed automotive manufacturing roadmap is expected to contain time-bound and performance-based incentives not only for manufacturers who can invest in their assembly lines to increase their production volumes for export, but also for those that will invest in new facilities for components manufacturing.
The roadmap is meant to steer the Philippines into becoming a competitive manufacturing base for motor vehicles and auto parts by 2025, and a global hub for automotive-related human resource development.
