Automotive sales in May rose 18 percent to 23,139 units from 19,598 units year-on-year, sustaining the gains of the industry, the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said Tuesday,
“The consistent growth in sales is a continued manifestation of the trust and confidence of consumers in the attractive products and services that are being offered ”, said Campi president Rommel Gutierrez.
The May figures boosted sales in the first five months of 2015 to 107,280 units, up 20 percent from 89,335 on year.
Sales of passenger cars in May increased 27 percent with 9,556 units from 7,507 units on year, while those of commercial vehicles climbed 12 percent to 13,583 units from 12,091 units.
All segments posted double digit growths, except for the Asian Utility Vehicle types that suffered a 2.3 percent drop to 3,895 units from 3,966 units.
Passenger car sales month-on-month grew 15 percent, while commercial vehicle turnout rose 5.1 percent from April sales of 8,331 and 12,928 units, respectively.
Sales of Category 5 heavy duty truck and buses, part of part of the commercial vehicle segment, jumped 66 percent to 101 units from 61 units in April.
Sale of passenger cars in the first five months rose 33 percent to 42,938 from 32,331 units on year.
The commercial vehicle category also posted a 12.9-percent growth, with 64,342 units sold in the five-month period from 57,004 units on year.
Leading the May 2015 sales is Toyota Motor Philippines Corp. with a 45-percent market share, followed by Mitsubishi Motors Philippines Corp. with 19 percent.
Ford Motor Philippines placed third with an 8 percent share, while Isuzu Philippines Corp. was at fourth with 7.5 percent. Honda is at fifth with a 6.3 percent market share.
Gutierrez attributed the consistent growth to attractive and flexible financing options and new model introductions from several brands.
Meanwhile, the groups both welcomed the passage of Executive Order 182, or the Comprehensive Automotive Resurgence Strategy program.
They said with the onset of motorization, the program would give opportunity to local manufacturers to boost their competitiveness and help strengthen the manufacturing sector.