The Philippine automotive industry reported another record performance as it saw vehicle sales reach 62,822 units in the first quarter this year, up by 21.6 percent from 51,722 units sold a year ago.
For March alone, vehicle sales similarly rose by 22.6 percent to 23,557 units, driven largely by the steady demand in the passenger car segment, joint data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) showed.
“As projected during the industry planning session conducted for 2015, demand from the business process outsourcing market has boosted the sales of the sub-compact segment. The [auto] industry continues to respond with the right product mix and very attractive financing package to meet this demand,” explained Campi president Rommel Gutierrez.
Industry data showed that sales in the passenger car segment rose 38.2 percent to 25,051 units for the January to March period. The commercial vehicles segment, which accounted for 60 percent of total sales for the same period, contributed 37,831 units, equivalent to a 12.6-percent growth rate compared to the sales recorded in the same period last year.
Within the commercial vehicle category, trucks and buses posted 69 percent growth with 706 units sold compared to last year’s year-to-date sales of 419 units. According to Gutierrez, this was mainly due to the increasing patronage from the public utility sector complying with the government’s re-fleeting program.
“With this performance, the industry is confident that it will reach its 310,000 sales volume target for the entire year as sales is expected to peak up in the coming months,” Gutierrez added.
As of end March 2015, Toyota Motor Philippines Corp. continued to lead the industry with a market share of 44.24 percent, equivalent to a total sales of 27,816 units, followed by Mitsubishi Motors Philippines Corp. with an improved share of 18.84 percent share (11,849 units). Ford Motor Co. Phils. Inc. meanwhile took the third spot with a market share of 8.39 percent (5,273 units), followed by Isuzu Philippines Corp., which captured a 7.88 percent of the market (4,957 units). Rounding up the top five was Honda Cars Philippines Inc. with a 6.29 percent share, equivalent to 3,958 units.
TMP, in a separate statement issued Monday, meanwhile reported that it had reached its highest monthly sales level last March.
Sales for March alone, according to the largest local car manufacturer in the country, hit 10,237 units. Sales of its best-selling model, the Toyota Vios, meanwhile reached 2,774 units, which the company claimed to be the “highest record a single model has achieved in the history of the local automotive scene.”
“The continued robust economy has given us the momentum to achieve this sales milestone. Toyota has also foreseen that market demand will continue to strengthen especially before the long holiday as customers eagerly require new vehicles for out-of-town trips. That is why, we at Toyota, took action by ensuring supply of vehicles to meet the requirements of the consumers during this period,” TMP president Michinobu Sugata said.
“With the launch of our summer ‘Drive Away Deals’ promo, it even makes owning a Toyota more attainable. TMP is likewise extending this promo for the whole month of April for customers who would want to take advantage of this offer and purchase a vehicle this summer,” Sugata added.