The Philippine automotive industry continues to grow with sales performance of 28,667 units for the month of October, 29 percent better compared to same month last year of 22,278 units. Based on a joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association, October 2015 sales topped September’s record sales of 27,045 units. Year-to-date sales figures reached 234,951 units, 22.4 percent higher than the 192,005 units of the same period in 2014.
Both passenger cars and commercial vehicles category experienced sales increase last month. The Passenger Cars grew by 25.2 percent with 11,235 units versus 8,975 units in October of the previous year. Constant marketing efforts and attractive financial options still drive the boost of this category. New and refreshed models introduced helped the market to continue to grow. Commercial Vehicles on the other hand also posed an increase of 31 percent. “The progress of the economy bodes well for the auto industry. More people can now purchase cars and with relative ease,” said CAMPI President Atty. Rommel Gutierrez. He explained, “With attractive financing options coupled with new model introductions to match customer needs, cars are definitely appealing to new buyers. We are confident to meet our forecast for 2015.”
Leading the October 2015 sales is Toyota Motor Philippines Corporation with 43.28% market share, followed by Mitsubishi Motors Philippines Corporation with 19.07%. Ford Motor Company Philippines, Inc. coming in at third with 8.33% share, while Isuzu Philippines Corporation sits at fourth with 7.8%. Honda Cars Philippines, Inc., is at fifth with 6.83% market share.