Automotive sales in the Philippines increased 28 percent in January to a record 30,425 units from 23,808 units year-on-year.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said Friday in a joint report the January sales were highest on record for the month, with all the categories contributing to the growth.
“Although we expected lower sales due to seasonality, reaching 30,000-unit level in January is a good start for the auto industry. We welcome appropriate measures that will not hamper the growth of the auto industry as it continues to positively contribute to the economy,” said CAMPI president Rommel Gutierrez.
Sales in the passenger car segment rose 27 percent to 10,984 units from 8,632 units in January last year.
Sales of commercial vehicles jumped 28 percent to 19,441 units from 15,176 units on year, reflecting the increased purchase power of consumers.
Sales of the Asian Utility Vehicles (Category 1) gained 26 percent to 6,026 units from 4,780 on year, sales of the light commercial vehicles (Category 2) grew 28 percent to 12,340 units from 9,678 units.
Light Trucks (Category 3) sales also went up 61 percent to 630 units sold from 392 units sold in the beginning of 2016.
Sales of category 4 trucks and buses surged 74 percent to 272 units from 156 units in January last year, while those of category 5 trucks and buses rose 1.8 percent to 173 units from 170 units on year.
Total industry sales, however, slowed 10.8 percent from December 2016. Passenger car sales declined 12 percent while commercial vehicle sales dropped 10 percent.
Toyota Motor Philippines Corp. leads automotive sales with a 48 percent market share, followed by Mitsubishi Motor Philippines Corp. with 16 percent.
Ford Motor Philippines Inc. ranked third with an 8.3 percent market share. On fourth spot with a market share of 7.2 percent was Honda Cars Philippines Inc. A new entry in the top 5 is Nissan Philippines Inc. with a 5.4 percent market share.
Vehicle sales in 2016 jumped 25 percent to 359,572 units from 288,609 units in 2015, amid the expansion of the automotive market and introduction of new models.
The 2016 sales exceeded the industry target of 329,300 units for the year.
“We are very glad that we were able to surpass the target this year. Successful introductions of new models complemented by various events and promotions enabled us to meet the increasing customers’ demands in an expanding Philippine market,” said Campi president Rommel Gutierrez last month.
The 2016 figure excluded the sales of Association of Vehicle Importers and Distributors Inc. Campi said it was confident the combined industry sales with the vehicle importers group would meet the 2016 target of 370,000 units.