The Philippine automotive industry flourished with 25.1 percent growth last December and succeeded in hitting its 2015 sales target. In a recent report issued by the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association, last month sales reached 26,679 units coming from 21,320 units of the same period in 2014. The overall sales for 2015 is 288,609 units versus 234,747 units sold in 2014.
As a usual trend for 2015, most categories performed well. Passenger Cars increased by 10,461 units, an increase of 33.3 percent from 7,850 units sold last December 2014. This category finished off with a strong record of 116,381 units, a growth of 28.9 percent from 2014’s 90,287 units sold. Sales grew in this segment as new car models were introduced and financing strategies were intensified throughout the year.
Commercial Vehicles also had a 20.4 percent boost with 16,218 units versus 13,470 of December last year. Overall sales grew to 172,228 units or by 19.2 percent from 144,460 in 2014. Within this segment, Category 5 (Heavy Duty Vehicles) had the biggest growth with 95 units at 66.7 percent compared to 57 units of the previous year. This category was able to double its performance because of refleeting programs and new infrastructure programs. Category 1 (AUVs) also enjoyed its sales performance at 51.6 percent lift with 5,145 units from 3,393 units sold last December 2014. Similar to Passenger Cars, new car models and flexible finances were offered under Category 1. It was only Category 4 (Trucks and Buses) that experienced drop in sales with 43.9 percent drop, or 213 units from 380 units in the same period last 2014. In 2015 as a whole, Commercial Vehicles category has showed a 19.2 percent growth with 172,228 units sold from 144,460 units last 2014.
“The year 2015 is yet another milestone year. The industry was able to maintain the growth momentum of previous years. We again surpassed our annual target of 272,000 units for CAMPI,” CAMPI President Atty. Rommel Gutierrez said.
Toyota Motor Philippines Corporation is leading with 43.32% market share. Mitsubishi Motors Philippines, Corporation follows in at second with 18.74%. Ford Motor Company sits at third with 8.79%. Isuzu Philippines Corporation is at fourth with 7.82%. Honda Cars Philippines, Inc. is stable at fifth with 6.69%.