Based on the combined sales reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), the local automotive industry on its fifth consecutive year, has beaten its first quarter record with sales reaching to 94,026 units, up by 23 percent over the 2016 first quarter sales of 76,473 units. The March 2017 sales achieved 36,561 units, 35 percent higher than the February’s record of 27,040 units.
Both Passenger Car and Commercial Vehicle segments had robust sales due to new model introductions, aggressive marketing promotions and attractive financing offers. Passenger Car has 7 percent growth with 31,951 over 29,796 units sold for the first three months. March’s Passenger Car sales also grew by 30 percent with 11,853 units compared to February’s 9,114 units. Passenger Car segment accounts for 33.98 percent of the first quarter sale.
Commercial Vehicle category jumped by 33 percent year-on-year with 62,075 units sold for the first quarter compared to 46,677 units sold in 2016. March sales grew by 38 percent with 24,708 units over 17,926 units sold in February.
“The Philippine automotive industry has, thus far, continues the path of motorization. While the first-quarter performance gives us reason to be optimistic, we are still cautious about our own target for the year,” said CAMPI President Atty. Rommel Gutierrez.
Top sales performers are Toyota Motor Philippines Corporation with 43 percent market share followed by Mitsubishi Motors Philippines Corporation with 17 percent, Ford Motor Company Philippines, Inc. with 8 percent, Honda Cars Philippines, Inc. with 7 percent, and Isuzu Philippines Corporation with 6 percent share.