March Auto Sales Post 25.4 Percent Growth
April 8, 2014
The Philippine automotive industry continues to set new records, month after month, as sales for March reached a record performance of 19,173 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 March volume is over 25 percent higher than the 15,292 units sold in the same month last 2013. It is also almost 14 percent higher than the February volume of 16,828 units.
Both Passenger Car and Commercial Vehicle segments enjoyed growth boosted by strong sales of new and improved models, as well as aggressive marketing promotions by various brands. The passenger car segment reached 7,174 unit sales, 40 percent higher versus March 2013 and 27.7 percent higher versus previous month. The commercial vehicle segment growth was more modest at 18 percent year-on-year and 7.1 percent month-on-month finishing with 11,999 units sales for the month.
Within the commercial vehicle category, growth is also seen versus same month last year. AUV sales reach 3,774 units with 6.6 percent growth, light commercial vehicles registered 7,778 with 24.3 percent increase, light trucks sold 335 units at a robust 61.8 percent growth, Category 4 and Category 5 trucks buses registered 110 units and 12 units respectively.
“March is generally considered as a strong sales month. The summer season and pre-holy week rush drives customers to the showrooms. Despite this, the market is still more than our expectation, a positive sign of strong automotive industry. We expect to sustain this stable level as we enter the second quarter,” explained CAMPI president Atty. Rommel Gutierrez.
For the first quarter of 2014, sales reached 51,643 units translating to a growth of 22.9 percent. Toyota Motor Philippines Corporation remains the market leader with 44.2 percent market share followed by Mitsubishi Motor Philippines Corporation with 23.6 percent. Ford Motor Philippines retained 3rd position with 7.2 percent share. Honda rankedfourth with 6.4 percent while Isuzu Philippines occupies the fifth spot with 5.9 percent market share.
