The Philippine automotive industry flourished in the month of May and achieved its highest monthly sales record yet. In a report issued by the joint meeting of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), sales last month reached 30,317 units which is a strong 31% increase versus May 2015 sales of 27,697 units. Last month’s performance added to 134,488 units sold this year and to the 25% year-to-date growth over 107,280 units of the same period last year.
Both Passenger Car (PC) and Commercial Vehicle (CV) segments’ sales accelerated compared with May 2015 results. The PC segment perform well with 10,893 units and grew by 14% or 9,556 units of May last year. The industry’s stiffer competition complemented with stock availability drove the sales high as new and refreshed models were introduced to the market.
Within the CV segment, all categories collectively exceeded the sales of same month in the previous year with 19,424 units; an increase of 43% from 13,583 units. Category 1 (AUV) garnered 5,426 units which is a 34% rise from May 2015’s 4,060 units; Category 2 (LCV) made 12,867 units or 45% gain over 8,903 units; Category 3 (Light Trucks) accomplished 704 units or 102% surge from 349 units; Category 4 (Trucks & Buses) attained 283 units or 57% growth over 180 units; and Category 5 (Heavy Duty Trucks & Buses) achieved 144 units or 58% incline over 91 units.
“With another impressive sales figure, we can see that there has been continuous demand for mobility. We expect new models to reach more markets with positive response as we also look at July figures to have a stable to higher sales performance,” explained by CAMPI President Atty. Rommel Gutierrez.
As of May, leading performer is Toyota Motor Philippines Corporation with 42.95 percent market share; followed by Mitsubishi Motor Philippines Corporation with 18.29 percent. Ford Motor Company Philippines, Inc. is in the third spot with 10.38 percent share. Isuzu Philippines Corporation sits at fourth position with 8.04 percent. Honda Cars Philippines occupies the fifth spot with 6.69 percent market share.