The Philippine automotive industry displayed a remarkable start for 2016 with an impressive 27.6% year-on-year growth over the January 2015 sales. In a recent report by Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), the industry sold hit 23,808 units versus 18,662 units of the same month last year.
All categories had incredible sales performance. Passenger cars posted nearly 20% increase from 7,200 units in January 2015 to 8,632 units last month. Collectively, the Commercial Vehicles grew by 32% coming from 11,462 units to 15,176 units for the same period comparison.
Category 1 (AUVs) grew from 3,542 units in January of last year to 4,780 units in the previous month; while Category 2 (SUVs) had the least growth of 29% with 9,678 units from 7,483. Category 3 (Light Duty Trucks and Buses) also improved with 392 units sold having 42% boost. Category 4 (Heavy Duty Trucks and Buses) had a 53% lift with 156 units sold. Most notably, Category 5 (Heavy Duty Trucks and Buses) led the growth in Commercial Vehicle sector with 188% increase; from 59 units sold in same period last year to 170 units last month, mainly because of the ongoing constructions and developments around the metro.
“We estimated a lower to stable sales performance for January since December has just ended. We will continue to offer products to meet the increasing customer demand,” CAMPI president Rommel Gutierrez said.
Leading the performers is Toyota Motors Philippines Corporation with 39.2 percent market share; followed by Mitsubishi Motors Philippines Corporation with 20.4 percent. Ford Motor Company Philippines, Inc. is at third with 10.3 percent. At fourth is Isuzu Philippines Corporation with 8.3 percent market share; and sitting at fifth is Honda Cars Philippines, Inc. with 7.4 percent.