The Philippine Automotive Industry sealed 2016 with a growth of 24.6% and succeeded in hitting the year’s target. In a report issued by the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and the Truck Manufacturers Association (“TMA”), 2016 sales record is 359,572 units sold coming from 288,609 units of the whole 2015. This also exceeded the groups’ year target of 329,300 units, and nearly hitting the whole industry target 370,000 units. December 2016 sales alone, the group sold 34,104 units with 28 percent growth from 26,679 of the same month in 2015.
The Passenger Car (“PC”) segment performed well during 2016 with 133,188 units sold or 14.4 percent increase from 2015 total sales of 116,381 units. For December 2016, PC segment reached 12,510 units sold with 19.6 percent rise over 10,461 in December 2015. Categories in Commercial Vehicles (“CV”) segment also increased in whole 2016 with a combined total of 226,384 or collective growth of 31.4 percent over 172,228 units sold in December 2015. For the previous month alone, CV sales reached 21,594 with 33.1 percent surge over 16,218 units in December 2015.
“We are very glad that we were able to surpass the target this year. Successful introductions of new models complemented by various events and promotions enabled us to meet the increasing customers’ demands in an expanding Philippine market,” explained by CAMPI President Atty. Rommel Gutierrez
Top market performer for 2016 is still Toyota Motor Philippines Corporation with 44.14% market share. Mitsubishi Motor Philippines Corporation follows with 17.08% share. Stable at third is Ford Motor Company with 9.37% market share. Isuzu Philippines Corporation is sitting at fourth place with7.61%. At fifth is Honda Cars Philippines, Inc with 6.45% market share.