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Friday, March 29, 2024

First-half car sales jumped 21% to 131,465 units

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Vehicle sales jumped 21 percent year-on-year to hit a new record in the first half, on the back of hefty demand from individual and corporate buyers as per capita income in the Philippines rises, two industry groups said Thursday.

The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report their members sold 131,465 vehicles in January to June, up from 108,957 units they sold in the same period last year.

“We just ended the first semester on a very strong note.  Industry is confident that it will reach the 310,000 unit sales it set for this year,” Campi president Rommel Gutierrez said.

“Our automotive industry is riding with the other industries’ growth. Micro SMEs and SMEs are expanding which made for the robust demand for AUVs and SUVs and light commercial vehicles,” said Gutierrez.

Gutierrez said the ongoing vehicle refleeting by construction companies and the growth in fuel haulers sales created a stronger demand for heavy-duty vehicles.

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Automotive sales in June climbed 23 percent to 24,185 units from a year ago. Month-on-month, sales in June increased 4.5 percent from 23,139 vehicles that were deployed in May 2015.

Data showed sales of passenger cars or sedans increased 19 percent to 9,840 units in June from 8,278 units sold a year ago while orders for commercial vehicles rose 27 percent to 14,345 units from 11,344 units.

Total sales of passenger cars in the first six months grew 30 percent to 52,778 units from 40,609 units in the same period last year while sales of commercial vehicles increased 15 percent to 78,687 units from 68,348 units.

Toyota Motor Philippines retained its market leadership with 43.9 percent of total sales.  It was followed by Mitsubishi Motors Philippines Corp. with 19.2 percent; Ford Motor Company Philippines with 7.9 percent; Isuzu Philippines Corp. with 7.7 percent; and Honda Cars Philippines Inc. with 6.6 percent.

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