The Philippine Automotive Industry continues to improve with another record for August sales. In a report issued by the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and Truck Manufacturers Association (“TMA”), August achieved 32,472 units with 40% increase from 23,181 units in the same month in 2015.
Both Passenger Car (“PC”) and Commercial Vehicle (“CV”) segments increased sales versus August 2015 record. The PC segment managed 11,136 units with 7.8 percent growth from 10,334 units of the same month last year. The CV segment accomplished 66.1 percent increase with 21,336 units sold from 12,847 units also on August last year.
All categories within CV segment have exceeded sales records from August 2015. New CAMPI members bulked up the growth of this segment. Most notably, Category 3 (Light Trucks) achieved a 227 percent growth with 1,527 units sold from 467 units of the same period last year. Category 4 (Heavy Duty Trucks and Buses) grew 193 percent with 639 units sold coming from 218 units in August last year. Category 5 (Heavy Duty Trucks and Buses) increased almost 189 percent or 309 units sold from 107 units in the previous year.
“During the 6th Philippine International Motor Show Press Conference, we announced our revised sales target for the year. With consistent increase on monthly sales, we believe that we can reach 370,000 units sales by end of 2016. With August performance and the much-anticipated 6th Philippine International Motor Show this September 14 to 18, the revised target is likely possible,” according to CAMPI President Atty. Rommel Gutierrez.
With year-to-date automotive sales reaching 229,919 units, Toyota Motor Philippines Corporation remains at the top with 43.48% market share. They are followed by Mitsubishi Motors Philippines Corporation with 17.58% share. Sitting at third place is Ford Motor Company Philippines, Inc. with 9.72% market share. At fourth spot is Isuzu Philippines Corporation with 7.55%; followed by Honda Cars Philippines, Inc. with 6.30% market share.