Vehicle sales up 20% in 8 months
The Philippine automotive industry managed to post a 20 percent growth in vehicle sales to 179,215 units in the first eight months of the year, despite the “seasonal decline” in August.
A joint report from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) showed that in August alone, vehicle sales grew by 21 percent to 23,181 units from the 19,116 units sold in the same month last year.
Compared to the sales in July 2015, however, the August sales dropped by 6 percent.
“The decline is not surprising considering that August, also known as the ghost month, traditionally produces lower sales,” Campi president Rommel Gutierrez on Wednesday said in a statement.
“The passenger cars category registered an increase in sales because of the sub-compact cars that are appealing to most new buyers whose main concern is improved mobility. The more efficient sub-compact cars occupy smaller space and contribute to the demand for greater mobility in the absence of a more efficient mass transport system,” Gutierrez explained.
In the first eight months of the year, the passenger car segment saw a 29-percent increase in sales to 73,333 units while commercial vehicle sales rose 15 percent to 105,882 units.
Article continues after this advertisementCompared to the same month last year, passenger car sales in August rose 29 percent to 10,334 units, while sales of commercial vehicles grew by 15.5 percent to 12,847 units.
Article continues after this advertisementCompared to July, however, sales of passenger cars inched up by 1.1 percent while that of commercial vehicles dropped by 10.5 percent.
Toyota Motor Philippines Corp. continued its market dominance with a share of 44.6 percent, equivalent to sales of 78,050 units as of end August this year.
Mitsubishi Motors Philippines Corp. took the second spot with a 19.3 percent market share (34,535 units), followed by Isuzu Philippines Corp., 7.9 percent (14,213 units); Ford Motor Company Phils. Inc., 7.6 percent 13,616 units); and Honda Cars Philippines Inc., 6.8 percent (12,167 units).
