Vehicle sales posted a new record in the first nine months, as orders sustained a double-digit growth rate in September, two industry groups said Tuesday.
The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report members sold 31,451 vehicles in September, up by 16.2 percent from 27,069 units delivered in the same month in 2015.
This brought total sales in the first nine months to a record 261,370 units, up 26.7 percent from 206,284 units sold a year earlier.
“With continued strong market demand and enough supply and new model introductions during the 6th Philippine International Motor Show last September, third-quarter sales remained strong. We expect sustained growth as we enter the fourth quarter,” said Campi president Rommel Gutierrez.
Both sales of passenger cars and commercial vehicles increased in September. Passengers cars rose 13.1 percent to 12,110 units from 10,703 units a year ago. It also went up by 8.7 percent month-on-month from 11,146 units in September.
The commercial vehicle segment grew 18.2 percent to 19,341 units in September from a year earlier, but declined 9.4 percent month-on- month from 21,336 units in August 2016.
Most categories within the commercial vehicle segment continued to increase in September. Category 1 or the Asian utility vehicle sales surged 34.9 percent to 5,954 units from 4,415 units last year.
Category 3 or the light commercial vehicle segment registered a 74.2-percent increase in sales to 754 units from 433 units sold in same month in 2015. Category 5 or the heavy duty trucks and buses was the only one among the five subcategories that posted slow growth in September with 129 units sold, representing a 2.3 percent drop from 132 units in September 2015.
Toyota Motor Philippines Corp. remains the dominant player with 43.8-percent market share, followed by Mitsubishi Motors Philippines Corp. with 17.3-percent share.
Ford Motor Company Philippines Inc. accounted for 9.6-percent market share while at the fourth spot was Isuzu Philippines Corp. with 7.47 percent. Honda Cars Philippines Inc. had 6.5-percent market share.