The Philippine automotive industry achieved combined sales of 19,116 units for the month of August.
The joint Marketing Committee of Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said that August volume is still higher by 39.5 percent than the 13,700 units sold in the same month last 2013.
Both Passenger Car (PC) and Commercial Vehicle (CV) categories’ sales further accelerated compared with August 2013 results. The passenger car segment’s sales reached 7,997 units, a notable growth of 56.1 percent year-on-year. On the other hand, the commercial vehicle segment achieved 11,119 sales and grew by 29.6 percent or 2,541 units versus August 2013.
Within the CV category, most segments exceeded the sales of same month last year. LCV registered 7,523 sales with 49.6 percent increase; Light Trucks accounted for 357 sales and 66 percent growth versus August 2013; Category 4 and 5 Trucks and Buses recorded combined growth of 17.8 percent. On the other hand, only AUV registered decrease in sales to 3,021, a 4.1% drop from previous year.
“Despite encountering problems especially with late delivery of units, we remained optimistic and achieved higher sales than our original forecast. The growth in sales shows that the automotive industry remains strong as supported by the increasing demand of the market. We expect to sustain the same stable level by the end of the third quarter,” explained by CAMPI president Atty. Rommel Gutierrez.
2014 year-to-date sales reached 148,803 units or a growth of 27.6 percent. The top 5 major players remained unmovable. Toyota Motor Philippines Corporation captured 45.1 percent share, an increase of 42.5 percent year-on-year. In the 2nd spot is Mitsubishi Motor Philippines Corporation with 22.2 percent share. Ford Motor Philippines is in the 3rd spot with 8.4 percent share. Isuzu Philippines Corporation lands at the 4th position with 5.7 percent share and Honda Cars Philippines Inc. occupies the 5th spot, closely behind Isuzu, with 5.5 percent market share.