PHILIPPINES Automotive sales in June jumped by 36%
Automotive sales in June jumped 36 percent to 32,993 units from 24,185 year-on-year on attractive financing deals and promotional packages, the Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said Tuesday.
Sales in the first six months of 2016 increased 27 percent to 167,481 units from 131,465 units on year, industry data show.
Infrastructure development was feeding the growing demand for heavy-duty vehicles.
Other vehicle categories recorded a sales increase. Asian utility vehicles rose 41 percent to 6,185 units on year, while light commercial units surged 49 percent to 13,689 units.
Sales of light trucks rose 42 percent to 661 units, while those of trucks and buses jumped 48 percent to 314 units.
Passenger cars sales grew 22 percent to 11,951 units in June and 18.5 percent in the six-month period to 62,560 units.
Sales of commercial vehicles rose 46.7 to 21,042 units in June and 33 percent to 104,921 units in the first half of 2016.
All segments within the commercial vehicle segment performed well. Sales of heavy duty trucks and buses surged 91 percent to 193 units.
Toyota Motor Philippines Corp. was still the leading performer with a 43-percent market share, followed by Mitsubishi Motor Philippines Corp. with 18 percent.
Ford Motor Philippines was at the third spot with a 10-percent share, while Isuzu Philippines Corp. landed at fourth position with 7.9 percent.
Honda Cars Philippines occupied the fifth spot with a 6.7-percent market share.
The industry maintained its self-imposed sales target of 350,000 units for 2016.