PH auto sales reach new high in H1

The Philippine automotive sector broke another record as vehicle sales reached 131,465 units in the first half of the year on the back of continued strong growth across local industries and the local economy.

This sales volume represented a 21 percent growth compared to the 108,957 units sold in the same period last year, according to joint data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).

“We just ended the first semester on a very strong note,” Campi president Rommel Gutierrez said in a statement issued Thursday.

“Our automotive industry is riding with the other industries’ growth. Micro-, small- and medium-sized enterprises are expanding which made for the robust demand for AUVs (Asian utility vehicles), SUVs (sports utility vehicles) and light commercial vehicles,” he explained.

Also contributing to the first-half growth, according to Gutierrez, was the ongoing refleeting of the construction industry and the stronger demand for heavy duty vehicles, which had fueled the growth in fuel haulers’ sales.

Data from Campi and TMA showed that in the first six months of 2015, passenger car sales grew by 30 percent to 52,778 units, while commercial vehicle sales rose by 15 percent to 78,687 units.

“The growth is mainly due to the industry’s marketing efforts and new model introductions,” Gutierrez added.

The month of June alone saw a double-digit growth in sales of 23 percent to 24,185 units, of which 9,840 units comprised of passenger car sales, while the remaining 14,345 units represented commercial vehicle sales.

Given the continued growth of the automotive sector, Gutierrez expressed optimism that local players will be able to hit their target of selling 310,000 units for 2015.

As of end-June, Toyota Motor Philippines (TMP) continued to lead the local automotive sector as sales reached 57,717 units, equivalent to a 43.9 percent share.

“Our first-semester performance proved to be encouraging as Toyota’s sales continue to increase with the second quarter growing by 7 percent versus the first quarter of 2015 due to the high demand of new vehicles over the summer season. As we enter the second half of the year, our priority as a brand is to remain steadfast to our customers’ needs such as providing the best deals we can offer, making it easier for Filipinos to own a Toyota,” explained TMP president Michinobu Sugata.