MANILA, Philippines – Sales of the country’s group of local vehicle assemblers grew by nearly a fifth in January from a year ago supported by the positive performance of both the passenger car (PC) and commercial vehicle (CV) segments.
According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), its combined sales with the Truck Manufacturers Association Inc. (TMA) reached 18,662 units last month, the highest January sales performance ever achieved and up by 19.3 percent from the 15,647 units sold in the same month in 2014.
“January has been traditionally a slow month following a hectic selling period in December, but this year’s January sales results is yet another milestone achieved by the automotive industry,” CAMPI president Rommel Gutierrez said.
Driving the growth in sales last month was the PC segment which posted a 35.8-percent uptick in sales to reach 7,200 units this year from the previous year’s sales of 5,301 units.
The CV segment also contributed to the higher sales in January, having sold 11,462 units this year, which climbed 10.8 percent from 10,346 units a year ago.
By company performance, Japanese carmaker Toyota Motor Philippines Corp. improved its leadership as it captured 46.7 percent of total sales.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
Another Japanese firm, Mitsubishi Motors Philippines Corp., placed second with its 17.4- percent market share, followed by Ford Motor Co. Philippines Inc. with its 8.8-percent share.
Settling for the fourth and fifth spots were Isuzu Philippines Corp. and Honda Cars Philippines Inc. with their respective shares of 6.6 percent and 6.1 percent.
“We have projected a 15-percent growth for the entire year. The January sales performance is an early sign that our targets are achievable, with more new product launches and promotion packages to come throughout the year,” Gutierrez said.
The CAMPI said earlier it anticipates strong demand particularly for small passenger cars this year as such vehicles are attractive to young professionals and those working in the business process outsourcing industry.
The group likewise expects demand for sports utility vehicles given its practicality during rainy days.
Last year, CAMPI and TMA achieved record-high sales of 234,747 units.
