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Friday, March 29, 2024

Automotive sales down 14% in first 7 months of 2018

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Automotive sales in the Philippines dropped 14.4 percent to 199,628 units in the first seven months of 2018 despite promotions and special rates to buyers from 233,115 units year-on-year.

Sales in July also fell 4.5 percent month-on-moth to 28,038 units from 29,350 units in June.

Both passenger car and commercial vehicles sales in the seven-month period declined 21.1 percent and 10.8 percent, respectively.

Sales of passenger cars dropped to 63,003 from 79,881 units a year ago, while those of commercial vehicles declined to 153,234 units from 136,669 units.

Except for category IV and V buses whose sales grew 13.1 percent and 18.3 percent, respectively, segments under commercial vehicles posted negative sales of 31.2 percent for Asian utility vehicles, 1.4 percent for light commercial vehicles and 21.7 percent for light trucks.

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Sales of passenger cars in July fell 45 percent to 6,975 units from 12,701 units a year ago, while those of commercial vehicles dropped to 21,063 units from 24,250 units.

Passenger car sales dropped 10.2 percent from 7,766 units in June while those of commercial vehicle declined 2.4 percent from 21,584 units.

Toyota Motor Philippines Corp. remains the market leader with 42.28 percent, followed by Mitsubishi Motor Philippines Corp. with 19.45 percent.

Nissan Philippines Inc. is in the third spot with an 8-percent market share, while  Ford Motor Company Philippines Inc. follows at fourth with 7.4 percent. Honda Cars Philippines Inc. is fifth with 6.9 percent.

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