Vehicle sales jump 20%
The local automotive industry sustained its strong growth momentum as it posted a 20-percent growth in vehicle sales to 156,034 units in the first seven months of the year on the back of the strong performance across all segments.
For July alone, vehicle sales grew 18.5 percent to 24,569 units, joint data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Trucks Manufacturers Association (TMA) showed.
“This is a very good start for the second semester, which normally accounts for a bigger share of the whole year’s target. We are confident that the market will remain strong and the industry will respond by bringing in new stocks in preparation for the demand peak toward the end of the year,” Campi president Rommel Gutierrez said.
According to the report, the passenger car segment recorded a 28.7-percent increase in sales to 62,999 units from January to July this year, while the commercial vehicle segment registered a 15.2-percent jump to 93,035 units.
For July alone, sales of passenger cars grew 22.6 percent to 10,221 units while that of commercial vehicles rose 15.8 percent to 14,348 units.
Similar to the previous months, the rise was mainly due to the availability of sub-compact cars and attractive marketing efforts conducted by the industry, Campi explained.
Toyota Motor Philippines Corp. (TMP) continued to lead the industry in the first seven months of the year with sales hitting 68,395 units, equivalent to a 43.8-percent market share.
In a separate statement issued on Tuesday, TMP disclosed that it had breached another monthly record in July as sales reached 10,678 units. This was the first time any local car manufacturer has achieved such sales volume.
“Achieving another 10,000 unit sales level is already an accomplishment in itself. However, going the extra mile and recording our highest tally yet at 10,678 in a single month is proof of how customers continue to enjoy the exceptional Toyota ownership experience,” TMP president Michinobu Sugata said. TVJ
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