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The automotive industry is optimistic to surpass last year’s sales as numbers continue to improve.
Vehicle sales rose 3.16 percent to 205,945 units in January to July from 199,628 units in the same period last year, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association showed.
Vehicle sales slumped to their two-year low in 2018 to 357,410 units, down 16 percent from 2017 and the steepest fall since 1998. This was following the implementation of the new excise taxes last year.
In July, sales grew 13.5 percent with 31,810 units from 28,038 units recorded in the same month a year ago.
From June, sales were flat at 31,810 in July .
Commercial vehicle sales in the seven-month period rose 5.5 percent to 144,130 units from 136,669 units in 2018, and widening its market share to 68.46 percent.
Passenger car sales were still sluggish, falling 1.8 percent to 61,815 units from 62,959 units last year.
“It is noteworthy that positive factors such as continued and strong sales campaigns and stable supply of units have outweighed the unfavorable effects of the off-peak season to the overall sales growth. Historically, July is considered as one of the lean months of the industry. Nonetheless, we are optimistic that if we are able to sustain this growth trend, we will be able to exceed our sales performance of last year,” said Rommel Gutierrez, Campi president.
Toyota Motor Philippines Corp. continued its lead with a market share of 42 percent for its sales of 87,574 units, an increase of 3.8 percent from 84,401 units a year ago.
At second is Mitsubishi Motor Philippines with sales of 35,977 units. Nissan Philippines Inc. was at third and sold 24,711 units. |
