Vehicle assemblers report 1.9% drop in 11-mo sales
MANILA, Philippines—The flooding in Thailand has taken its toll on the local automotive industry, with vehicle sales falling by 1.9 percent to 131,242 units in the first 11 months of the year from 133,739 units a year ago.
A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) showed that vehicle sales in November alone dropped by 10.4 percent to 12,090 units, from 13,489 units in the same month in 2010.
According to Campi, the decline in sales was due to market seasonality and the initial effect of the Thailand crisis, which limits the supply of automotive parts and some vehicle models.
Passenger car sales fell by 5.6 percent to 41,789 units in the first 11 months of the year, from 44,252 units in the same period last year, while commercial vehicle sales dipped by 0.04 percent to 89,453 units from 89,487 units a year ago.
Sales of light trucks similarly fell by 0.7 percent to 1,708 units as of end November 2011 from 1,720 units last year.
Toyota Motor Philippines Corp. maintained its dominance in the market, with sales in the first 11 months reaching 50,610 units,
cornering a market share of 38.31 percent.
Mitsubishi Motors Philippines Corp. came second, with sales reaching 30,175 units in the same period, grabbing a 21.94 percent market share.
On the third, fourth and fifth spots were Ford Motor Co. Phils. Inc., Honda Cars Philippines Inc. and Isuzu Philippines Corp.
Last month, the group of vehicle makers had warned that while the Japan situation had started to ease, the industry was in for another tough ride because of the flooding in Thailand.
“With the supply situation in Japan moving toward normalization, the automotive industry is bracing itself for the possible impact of another natural disaster being experienced in Thailand,” Campi earlier said.
“Floods have inundated several vehicle and parts manufacturing plants in Thailand, resulting in the shutdown of their operations.”
