The Chamber of Automotive Manufacturers of the Philippines (Campi) reported on Monday a 21-percent year-on-year increase in its member-firms’ vehicle sales in November.
The group mainly attributed the growth to strong market demand and stable supply.
For the first 11 months, Campi members’ sales grew by 8 percent to 141,283 units from 130,812 units in the same period last year.
Toyota Motor Philippines remained the top automobile company in the country in the first 11 months, with a 41.7-percent market share. It was followed by fellow Japanese manufacturers Mitsubishi with 22.3 percent and Honda with 8.1 percent. Isuzu and Ford took the fourth and fifth spots, respectively, with a 7.6 percent and 5.7 percent share of the market.
Campi said the influx of new models and competitive financing schemes across the industry were driving demand.
Campi is poised to set record sales for 2012 based on year-to-date totals for November, Campi president Rommel Gutierrez said. The group aims to sell more than 185,000 units this year.
“I am confident that [this] month’s performance will propel industry sales further as we usually experience increased spending during the holiday season. Consistent with previous reports, these figures strongly reflect the market’s demand based on actual customer deliveries reported by our Campi members,” Gutierrez said.