Auto Industry Grows 7.5% for February 2017

March 10, 2017

The Philippine Automotive Industry continues to grow with a humble 7.5% growth in February 2017 over February 2016 sales. In a report issued jointly by the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and the Truck Manufacturers Association (“TMA”), there were 27,040 units sold last month coming from 25,150 units sold in February last year.

Most segments performed well last month. The only segment that decreased is Passenger Car (“PC”) which went down to 9,114 units sold last month, a 7.2% drop from 9,819 units sold in February 2016. On the other hand, Commercial Vehicles (“CV”) segment collectively went up to 17,926 units sold last month, a 16.9% increase from 15,331 units sold in the same month last year.

All sub-categories within CV segment also increased on year-on-year comparison. Category I (Asian Utility Vehicles) achieved nearly 30% having 5,725 units sold last month versus 4,419 units sold in February 2016. Category II (Light Commercial Vehicles) rose by 9.5% with sales reaching 11,025 units from 10,071 units sold in February last year. Category III (Light Trucks) improved by almost 27% with 703 units sold versus 555 units sold in the same month last year. Most notably, Category IV Trucks and Buses surged by 106.3% with 330 units sold last month coming from 160 units sold in the same month in 2016; while Category V Trucks and Buses went up by near 17% with 143 units sold coming from 126 units sold in February 2016.

“February 2017 sales growth was modest compared to the previous month. Despite supply limitations and fewer calendar days, the automotive industry still continues to serve and satisfy the demand of the market,” explained by CAMPI President Atty. Rommel Gutierrez.

Toyota Motor Philippines Corporation continues to lead with 47.26% market share. Mitsubishi Motors Philippines comes in second with 16.86% share. Third leader is Ford Motor Philippines, Inc. with 6.99% share. On fourth place is Honda Cars Philippines, Inc. with 6.75% share. Back on fifth spot is Isuzu Philippines Corp. with 5.62% market share.