Vehicle sales hit all-time high
The Philippine automotive industry posted record sales in October, hitting 22,278 units or up by 32.6 percent from the level in the same month last year, as members of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) were able to sell 22,278 units, up 32.6 percent compared to the same period last year.
“We are pleased with the results for October as this is yet another record-breaking monthly sales. Our efforts to meet the market’s demand and favorable responses to new models helped in boosting the automotive industry’s confidence that it would post higher sales in the remaining two months of the year,” said Chamber of Automotive Manufacturers of the Philippines (Campi) president Rommel Gutierrez.
The vehicle sales recorded last month had brought the total in the first 10 months of the year to 192,005 units, up by 29.6 percent from the 148,181 units sold a year ago, the joint data from Campi and the Truck Manufacturers Association (TMA) showed.
According to the report, total passenger car sales in the first 10 months of the year surged by 50.3 percent to 74,397 units, from the 49,487 units sold a year ago.
Sales of commercial vehicles rose by 19.2 percent to 117,608 units in the same 10-month period, from 98,694 units sold a year ago.
Campi explained that such robust growth could be attributed largely to new model introductions, aggressive promotional activities and increasing consumer demand.
Toyota Motor Philippines Corp. (TMPC) retained its market leadership with a 45.2-percent market share in total vehicle sales or 86,794 units as of the end of October, followed by Mitsubishi Motors Philippines Corp., with a 21.69-percent share at 41,651 units.
Ford Motor Co. Phils. Inc. took the third place with an 8.6-percent share or 16,514 units, followed by Honda Cars Philippines Inc. with 5.79 percent share (11,117 units), and Isuzu Philippines Corp., 5.73 percent share (11,007 units).
TMPC reported that it was able to post its highest monthly vehicle sales in October at 10,163 units. This, TMPC claimed, was the first time that any local car brand was able to experience such performance in terms of vehicle sales.
“The continued robust growth of the economy has given us the momentum to achieve this sales milestone. Toyota has also foreseen the market demand to be strong before the long holidays and took action by ensuring supply of vehicles to meet the requirements of the consumers during this period,” noted TMP president Michinobu Sugata.
