Auto Industry Gallops into 2014 with 27% Year-on-Year Growth

The Philippine automotive industry is off to a very good start as its January sales reached an impressive 27 % increase over the January 2013 sales. Based on the report issued by the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the industry sold a total of 15,642units last month compared to 12,303 units in the same month last 2013.

Last month’ssales performance is so far the highest January salesever achieved by the industryafter comparing all Januaryrecord in the last 10 years. This is despite the fact that sales actually dropped by 9% from the record setting 17,185 units sold in December 2013. As CAMPI President Atty. Rommel Gutierrez explained, “January has always been a slow month following a hectic sales period in December. However, new product launches in the last quarter of 2013 and extended promo packages continued to attract buyers well into the newyear.”

The two main product categories attained almost the same year-on-year growth rate, passenger cars by 26.4 % from 4,190 units to 5,298 units and commercial vehicles by 27.5% from 8,113 units to 10,335 units, for the comparison period. All sub-segments within the commercial vehicle category also increased. The AUV segment improved by 34%, from 2,508 units in January 2013 to 3,355 units last month; LCV by 24% from 5,271 units to 6,550 units; light trucks by 48% from 201 units to 298 units. Even trucks and buses showed a modest 6% growth from 133 units in January 2013 to 141 units last month.

“If the January sales performance is an indication of things to come, we can expect another record setting year as the industry gears up for more new product launches and bigger activities, such as the much awaited 5th Philippine International Motor Show in September. The year of the horse shows a powerful animal in constant forward motion. That will be the same direction that the automotive industry will take this year,” added Atty. Gutierrez.

In terms of geographical areas, all 14 regions showed an increase in sales. While NCR sales which normally account for 60% of the volume increased by 22% from 7,595 units in January 2013 to 9,286 units last month, growth in the other regions is even more impressive. Region 2 sales increased by 236% from 56 units in 2013 to 188 units in January 2014. Region 8 sales were up by 129 % from 49 units in January 2013 to 112 units last month, a sign that recovery from Yolanda is on its way. Region 5 also improved by 118% from 49 units to 107. All this is a sign that motorization continues to take place not only in the urban areas but throughout the country, according to Atty. Gutierrez.

In terms of individual performance, Toyota Motors Philippines improved its leadership with a higher 45 % market share. This was followed by Mitsubishi Motors with 22% share. On third spot with a market share of 6.9% is Ford Group while Honda Cars is a close fourth with 6.8 %. Rounding up the fifth spot is Isuzu Philippines with 5.9%.

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