Vehicle sales in PH surged by 22% in July

Growth in vehicle sales revved up to 22 percent year-on-year in July as turnover of commercial vehicles surged while passenger cars barely maintained double-digit growth.

The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) said in a joint report that sales volume reached 29,967 units last month, jumping from 24,569 units in July 2015.

July sales brought the volume for the first seven months of 2016 to 197,448 units, overtaking the year-ago period’s 156,034 units by 26 percent.

“With appealing financial plans and continuous marketing efforts, we were able to outshine our record in July 2015,” Campi president Rommel Gutierrez said in a statement.

Campi and TMA data show commercial vehicle sales surged 31 percent to 18,737 units versus 14,348 units.

Sales across this category showed increases, with light commercial vehicles outperforming the others, rising 36 percent to 11,982 units.

Heavy duty trucks and buses jumped 35 percent to 171 units while Asian utility vehicles leaped 22 percent to 5,767 units.

Also, the industry groups reported that sales of passenger cars registered “a humble 9.9-percent growth” with 11,230 units.

From January to July, commercial vehicles sold 33 percent more at 123,658 units while passenger cars sold 17 percent more at 73,790 units.

In seven months of selling, Toyota Motor Philippines Corp. outpaced other companies with 88,150 units or 44 percent of total. This meant an increase of 28 percent year-on-year.

Mitsubishi Motors Philippines Corp. ranked second with 35,542 units, rising 19 percent to corner 18 percent of total. Ronnel W. Domingo