The Philippine Automotive Industry started fourth quarter really well with another high sales record. In a report issued by Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and Truck Manufacturers Association (“TMA”), October 2016 accomplished 31,132 units sold; this is 8.6 percent increase over same month last year with 28,667 units sold.
Both Passenger Car (“PC”) and Commercial Vehicle (“CV”) segments’ sales increased compared with October 2015 results. The PC segment reached 11,499 units sold or a growth of 2.3 percent increase from 11,235 units sold October last year. CV segment attained 19,633 units sold with 8.6 percent boost from 28,667 units sold versus October 2015.
Within the CV segments, most categories thrived significantly. On year-on-year comparison, Category I (AUVs) gained 42.4 percent by achieving 6,231 units sold in October from 4,377 units sold. Category III (Light Trucks and Buses) had a substantial rise of 70.1 percent with 842 units sold from 495 units sold last October 2015. Category IV (Heavy Duty Trucks and Buses) had 84.6 percent surge with 347 units sold from 188 units sold in the same month last year. Category V (Heavy Duty Trucks and Buses) grew 53.2 percent with 193 units sold from 126 units sold in the same month last year. On the other hand, Category II (SUVs) was the only category that declined 1.8 percent with 12,020 units sold in October compared to 12,246 units sold last year.
“With continuous marketing efforts and attractive deals from our brand principals, auto sales performance continues to be strong at the beginning of fourth quarter. We expect the market demand to remain robust until the end of the year,” according to Atty. Rommel Gutierrez, President of CAMPI.
As of October, automotive sales have reached 292,502 units sold. Toyota Motor Philippines Corporation remains the market leader with 44.18% market share. In the second spot it Mitsubishi Motor Philippines Corporation with 17.18% market share. Ford Motor Philippines, Inc. is at third place with 9.39% share. At fourth is Isuzu Philippines Corporation with 7.46% share; followed by Honda Cars Philippines, Inc. with 6.42% market share.