February Auto Sales Post 17 Percent Growth

The Philippine automotive industry continues to set new records, month after month, as sales for February reached a record performance of 16,828 units. According to 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 February volume is almost 17 percent higher than the 14,439 units sold in the same month last 2013. It is also almost 8 percent higher than the January volume of 15,642 units which as reported last month was already a record for January sales.
All product categories enjoyed brisk sales. In the passenger car segment, consumers continued to take advantage of the offers attached to new models introduced since the last quarter of 2013 as sales grew by 22 % from 4,618 units in February 2013 to 5,620 units last month. Sale of commercial vehicles also increased by as much as 14 percent on year on year basis from 9,821 units to 11,208 units.

Within the commercial vehicle category, light trucks sales grew by 127 percent from 161 units in February 2013 to 365 units last month. Category 4 trucks and buses increased by 30%, from 97 units to 126 units, mostly due to higher demand for new public utility buses. Light commercial vehicle which comprises 64 percent of the entire commercial vehicle segment continued to attract demand with sales reaching 7,174 units representing more than 19 percent increase over the 6,007 units sold in February last year.

“There seems to be no let up in sales. With fewer calendar days for February, the industry is surprised to see sales reaching a level normally achieved during the peak month of December. If this trend will continue, the industry might even revise its forecast earlier than expected,” explained CAMPI president Atty. Rommel Gutierrez.

In terms of regional distribution, sale in the National Capital Region increased by 8 percent from 9,078 units in February 2013 to 9,793 units last month. In terms of share, however, the NCR share of the total new sales declined from last year’s 63 percent to 58 percent this year. Triple digit increases were seen in Region V (Bicol region) and Region II (Cagayan-Isabela-Nueva Viscaya) at 168 percent and 118 percent, respectively. Regions III, IV and VII increased by identical 34 percent each compared to the same period last year.

In terms of year to date sales, Toyota Motor Philippines Corporation remains the market leader with 43 percent market share followed by Mitsubishi Motor Philippines Corporation with 24 percent. Ford Motor improved its third place ranking with 7.25 percent share. Honda is in fourth with 6.34 percent while Isuzu Philippines occupies the fifth spot with an even 6 percent market share.

,

No comments yet.

Leave a Reply