Vehicle sales grew 7.5 percent year-on-year in February, slower than the 27.8-percent increase registered in January, two industry groups reported Thursday.
Combined sales of Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association reached 27,040 units in February, up from 25,150 vehicles sold in the same month in 2016.
The sales data excluded those reported by the Association of Vehicle Importers and Distributors.
“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,” said Campi president Rommel Gutierrez.
Total sales in the first two months increased 17.4 percent to 57,465 units from 48,958 units a year ago.
Passenger car sales hit 9,114 units in February, slightly down from 10,984 units in same period in 2016.
Commercial vehicle sales rose 16.9 percent to 17,926 units from a year ago, led by the 29.6-percent rise in sales of Asian utility vehicles.
Data showed that on a month-on-month basis, the February sales declined 11.1 percent from 30,425 vehicles sold in January.
Campi and TMA said in a joint report that on a month-on-month basis, almost all segments posted lower sales, except for the light trucks and the trucks and buses category IV.
The passenger car segment went down by 17 percent to 9,114 units in February from 10,984 units in January.
Deliveries of commercial vehicles also went down by 7.8 percent to 17,926 units from 19,441 units while orders for Asian utility vehicles fell 5 percent to 5,725 from 6,026 units. Sales of light commercial vehicles declined 10.7 percent to 11,025 units from 12,340 units, while the trucks and buses category V saw a 17.3-percent drop to 143 units from 173 units.
Toyota Motor Philippines Corp. remained the market leader with a 47.26-percent market share in February, followed by Mitsubishi Motors Philippines with 16.86 percent.
Ford Motor Philippines Inc. emerged as the third biggest seller with 6.9-percent share, followed by Honda Cars Philippines Inc. with 6.75 percent. Isuzu Philippines Corp. captured the fifth spot with 5.62-percent market share.