Vehicle sales jumped 26.7% in nine months; Toyota maintained lead

The Philippine automotive industry scored another record in September as vehicle sales reached 31,451 units, up 16 percent from 27,069 units in the same month last year.

This brought total vehicle sales in the first nine months to 261,370 units, up 26.7 percent from 206,284 units in the same period last year, data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) showed.

“With strong demand, enough supply and new models introduced during the 6th Philippine International Motor Show in September, third quarter sales remained strong. We expect sustained growth as we enter the fourth quarter,” said Campi president Rommel Gutierrez.

Data from Campi and TMA showed that commercial vehicles, which sold 164,334 units, continued to account for the bulk of sales as of September. This was up 34.4 percent from a year ago. All categories under this segment posted double digit growth in sales. The biggest growth noted was the 82-percent surge in sales of trucks and buses.

Passenger car sales grew 15.5 percent to 97,036 units in the first three quarters of the year.

As of September, Toyota Motor Philippines Corp. remained the market leader with sales hitting 114,419 units, or a 43.78-percent share of the market. Coming in second was Mitsubishi Motors Philippines Corp. which cornered a 17.34-percent market share (45,326 units) followed by Ford Motor Co. Philippines Inc. with 9.56 percent (24,993 units).