Growing demand drove vehicle sales in May

Strong demand pushed up vehicle sales in May to 19,598 units, reportedly a new record high on a monthly basis, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi).

In a statement, Campi said that that the sales figure recorded in May was 23.6-percent higher than the 15,860 units sold in the same month last year.

The surge in sales was due largely to adequate supply, the introduction of new models and aggressive promos carried out by different brands, the group said.

In the first five months of the year, vehicle sales grew by 22.4 percent to 89,335 units from the 72,988 units sold a year ago, a joint report by Campi and the Truck Manufacturers Association (TMA) showed.

Both the passenger car (PC) and commercial vehicle (CV) categories saw a rise in sales during the January to May period.

Passenger car sales rose by 35.3 percent to 32,331 units in the first five months, while the number of commercial vehicles sold grew by 16 percent to 57,004 units.

Growth was also seen across the segments under the CV category, with AUV sales rising 8.8 percent; LCVs by 19 percent; light trucks by 57.5 percent; and trucks and buses by 48.3 percent.

Campi president Rommel Gutierrez is bullish that this uptrend will continue this month.

Toyota Motor Philippines Corp. retained its market leadership with a 44.84-percent share in total vehicle sales, or 40,062 units, in the first five months of the year. It was followed by Mitsubishi Motors Philippines Corp. with a 22.98-percent share at 20,531 units.

Ford Motor Co. Phils. Inc. maintained its third place ranking with an 8.02-percent share (7,167 units), followed by Isuzu Philippines Corp. with a 5.9-percent market share (5,273 units). Honda Cars Philippines Inc. followed with 5.33 percent share (4,759 units).

Despite the continued rise in vehicle sales in the local market, however, the Philippine automotive industry remained a laggard in Southeast Asia.

Data from the Asean Automotive Federation showed that in terms of vehicle sales, the Philippines again ranked fourth, having sold only 69,737 motor vehicles as of end-April this year. This was lower than the 435,382 units sold by Indonesia, the 297,431 units sold in Thailand and the 218,642 units Malaysia.

In terms of motor vehicle production, the Philippines continues to be a cellar dweller, having produced only 26,318 units as of end-April.