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Philippines July 2016 Auto Sales Posts 22 percent growth

A general view of a Toyota showroom is seen in Manila on June 19, 2009. Auto sales in the Philippines grew by 4.6 percent in May due to consumer confidence in the market, and driven by a stable financing environment according to press reports. AFP PHOTO/TED ALJIBE

The Philippine Automotive Industry has set a new sales record for the month of July. In a report issued by the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and Truck Manufacturers Association (“TMA”), sales for the month of July reached 29,967 units. Last month’s performance is 22 percent higher than July 2015 which did 24,569 units.

Sales from both Passenger Car (“PC”) and Commercial Vehicle (“CV”) segments increased compared to July 2015 results. Passenger car sales grew by 9.9 percent with 11,230 units sold this month. The Commercial Vehicle segment managed a significant 30.6 percent surge year-on-year with 18,737 units versus 14,348 units in 2015.

Within the CV segment, all categories exceeded sales records from July 2015. Category 2 (LCV) accomplished the biggest increase with 36.2 percent with 11,982 units from 8,798 units in July last year. While Category 5 (Heavy Duty Trucks and Buses) grew 34.6 percent with 171 units from 127 units. Category 1 (AUV) was able to achieve a 22.5percent climb with 5,767 units coming from 4,709 units.

Year-to-date automotive sales are currently at 197,448 units with Toyota Motor Philippines Corporation remaining as the top performer with 43.63 percent market share. Taking the second slot in the overall sales is Mitsubishi Motors Philippines Corporation with an 18 percent share of the market. Ford Motor Company Philippines, Inc. is at third spot with 9.88 percent market share. In fourth place sits Isuzu Philippines Corporation with 7.77 percent share and rounding up the top five is Honda Cars Philippines, Inc. with 6.51 percent market share.
Read more: http://www.autoindustriya.com/auto-industry-news/campi-july-2016-auto-sales-posts-22-percent-growth.html#ixzz4HOWzKig4

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