The Philippine automotive industry continues to set new records with year-on-year 30.3% increase as April reached a record performance of 27,697 units compared to 21,259 units of the same month in 2015. According to the report issued by the joint Marketing Committee of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), units sold last months added to nearly 24% growth of the year-to-date total of 104,176 units versus the 84,141 units of the same period last year.
Both Passenger Cars and Commercial Vehicles posted significant increases compared to April 2015. Passenger Cars category boosted 19 percent with 9,920 units sold last month coming from 8,331 units in the previous year. Moreover, Commercial Vehicles grew nearly 38% with 17,777 units sold as opposed to 12,928 units for the same comparison period. The segments’ achievement is mainly because of stable demand of new models supplemented by aggressive summer promotions and other marketing support.
Within the Commercial Vehicle segment, there were no slowdowns in creating records as all categories surpassed their previous sales records. Category 1 AUV attained a 28% rise with 4,720 units sold in April from 3,698 units in the same month in 2015. Category 2 LCV obtained a 41% surge having 12,233 units sold last month versus 10,876 units of April in the previous year, while Category 3 Light Trucks reached a 40% increase with 466 units sold. Category 4 and Category 5 Trucks and Buses gained 13.1% and 148% growths, respectively, registering 207 units of Cat. 4 and 151 units of Cat. 5 sold.
“April sales were beyond expectation compared to sales trend based on seasonality. Given that we offer attractive promotions and the arrival of new models, we project sustained growth the whole second quarter,” according to Atty. Rommel Gutierrez, President of CAMPI.
Leading performers of the year is Toyota Motor Philippines Corporation with 41.52 percent market share; followed by Mitsubishi Motors Philippines Corporation with 18.63 percent. Ford Motor Company Philippines, Inc. retained at third with 10.59 percent. Isuzu Philippines Corporation ranked fourth with 8.45% while Honda Cars Philippines, Inc. occupied the fifth spot with 7.15 percent market share.