Auto Industry Dashes into 2017 with 27.8% Year-on-Year Growth
February 13, 2017
The Philippine Automotive Industry starts 2017 with a remarkable 27.8% growth over January 2016 sales. In a report jointly issues by the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and the Truck Manufacturers Association (“TMA”), January 2017 achieved 30,425 units sold coming from 23,808 units of the same month last year.
This is the highest January sales record ever allowing 2017 to have a good opening with all categories performing considerably well. The Passenger Car (“PC”) segment increased by 27.2% with 10,984 units sold from 8,632 units sold in January 2016. As a whole, Commercial Vehicles (“CV”) segment reached 28.1% with 19,441 units sold from 15,176 units sold in the same period last year.
Within CV segment, all categories got their shares of growth. The Asian Utility Vehicles (Category 1) rose 26.1% with 6,026 units sold from 4,780 units sold in January last year; while the Light Commercial Vehicles (Category 2) grew 27.5% with 12,340 units sold from 9,678 units sold also in January 2016. Light Trucks (Category 3) improved 60.7% with 630 units sold from 392 units sold in the beginning of 2016. Category 4 Trucks and Buses surged 74.4% with 272 units sold from 156 units in January last year, while Category 5 Trucks and Buses gained 1.8% with 173 units sold from 170 units sold in January 2016.
“Although we expected lower sales due to seasonality, reaching the 30,000-unit level in January is a good start for the auto industry. We welcome appropriate measures that will not hamper the growth of the auto industry as it continues to positively contribute to the economy,” explained by CAMPI President Atty. Rommel Gutierrez.
In terms of individual performance, Toyota Motor Philippines Corporation leads with 47.8% market share. They are followed by Mitsubishi Motor Philippines Corporation with 16.24% share. Ford Motor Philippines, Inc. sits at third with 8.28% market share. On fourth spot with a market share of 7.18% is Honda Cars Philippines, Inc. A new entry in the top 5 is Nissan Philippines, Inc. with 5.45% market share.
