PH vehicle sector posts double-digit sales growth
Vehicle sales revved up 22 percent year-on-year in November as turnover of commercial vehicles and passengers cars maintained double-digit growth rates.
The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) said in a report that sales volume hit 32,966 units last month, up from 26,979 units a year ago.
Sales in the first 11 months of 2016 hit 325,488 units, overtaking 261,930 units a year ago.
“The good sales performance in November was due to enticing promotions and events matched with good demands of our market,” Campi president Rommel Gutierrez said.
Campi and TMA data show commercial vehicle sales in November surged 28 percent to 20,823 units versus 16,330 units.
Sales across this category rose, except for heavy-duty trucks and buses which fell by 18 percent to 136 units.
Other trucks and buses grew 41 percent to 365 units while light trucks leaped 85 percent to 968 units.
Sales of light commercial vehicles zoomed 25 percent to 12,950 units while Asian utility vehicles rose 28 percent to 6,449 units.
Also, sales of passenger cars went up by 14 percent to 12,143 during the month.
From January to November, commercial vehicles sold 31 percent more at 204,790 units while passenger cars sold 14 percent more at 120,678 units.
Toyota Motor Philippines Corp. outpaced peers in terms of sales with 144,488 units or 43 percent of total.
Mitsubishi Motors Philippines ranked second with 55,793 units, or 19 percent of total, followed by Ford Motor Co. Philippines Inc. with 9 percent of total.
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