Vehicle sales grew by 27 percent to 15,642 units in the first month of 2014, with Toyota capturing 45 percent of the market. AP FILE PHOTO
MANILA, Philippines—Vehicle sales grew by 27 percent to 15,642 units in the first month of 2014, signaling a strong start for the Philippine automotive industry.
Last month’s performance was the highest January sales record achieved by the industry over the last 10 years, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi).
“January has always been a slow month following a hectic sales period in December. However, new product launches in the last quarter of 2013 and extended promo packages continued to attract buyers well into the new year,” said Campi president Rommel Gutierrez. “If the January sales performance is an indication of things to come, we can expect another record-setting year as the industry gears up for more new product launches and bigger activities, such as the much awaited 5th Philippine International Motor Show in September.”
Based on the joint report by Campi and the Truck Manufacturers Association (TMA), the two main product categories attained almost the same year-on-year growth rate.
The passenger cars segment grew by 26.4 percent to 5,298 units from 4,190 units a year ago while sales in the commercial vehicle segment jumped 27.4 percent to 10,335 units from 8,113 units a year ago.
All sub-segments within the commercial vehicle category also increased, notably the AUV (Asian utility vehicle) segment, which rose by 34 percent to 3,355 units last month from 2,508 units in January 2013.
The light commercial vehicle segment similarly grew by 24 percent to 6,550 units from 5,271 units while sales in the light trucks segment rose by 48 percent to 298 units. Even the trucks and buses segment showed a modest 6-percent growth to 141 units last month.
In terms of geographical areas, Campi claimed that all 14 regions showed an increase in sales. Sales in Metro Manila, which accounted for 60 percent of the total, rose by 22 percent to 9,286 units last month.
“Region 5 also improved in terms of sales, growing by 118 percent to 107 units. All this is a sign that motorization continues to take place not only in the urban areas but throughout the country,” Gutierrez said.
Toyota Motors Philippines improved its leadership with a higher 45-percent market share last month, followed by Mitsubishi Motors with a 22-percent share. In third spot with a market share of 6.9 percent was Ford Group while Honda Cars was a close fourth with 6.8 percent.