The Philippine automotive industry continues to set new records, month after month, as sales for February reached a record performance of 20,663 units. According to the report issued by the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the February volume is almost 23 percent higher than the 16,859 units sold in the same month last 2014. It is also 11 percent higher than the January volume of 18,662 units which as reported last month was already a record for January sales.
All product categories enjoyed brisk sales. In the passenger car segment, consumers continued to take advantage of the offers attached to new models introduced since the last quarter of 2014 as sales grew by 44 % from 5,644 units in February 2014 to 8,149 units last month. Sale of commercial vehicles also increased by almost 12 percent on year on year basis from 11,215 units in 2014 to 12,514 units for the current year.
Within the commercial vehicle category, light trucks sales grew by almost 23 percent from 349 units in February 2014 to 428 units last month. Category 4 trucks and buses increased by 22%, from 126 units to 154 units, mostly due to higher demand for new public utility buses. Heavy duty trucks and buses or category 5 showed robust growth 0f 140 per cent from 40 units in February 2014 to 96 units due to continued strong demand from the construction sector. Light commercial vehicle which comprises 66 percent of the entire commercial vehicle segment continued to attract demand with sales reaching 8,274 units representing 15 percent increase over the 7,197 units sold in February last year.
“There seems to be no let up in sales. With fewer calendar days for February, the industry is surprised to see sales reaching a level normally achieved during the peak month of December,” explained CAMPI president Atty. Rommel Gutierrez.
Industry has earlier forecasted 2015 sales to reach 310,000 units representing a 15 percent growth over the 269,058 units sold in 2014. However, CAMPI figures alone already show a year-to-date growth of 21% from sales of 32,506 units in 2014 to 39,325 units for the current period. “If this trend continues, industry may again exceed its target for the year,” stated Atty. Gutierrez.
In terms of year to date sales, Toyota Motor Philippines Corporation remains the market leader with an improved market share of 44.7 percent followed by Mitsubishi Motor Philippines Corporation with 18.6 percent. Ford Motor is in third place with 8.64 percent share. Isuzu is in fourth with 7.73 percent while Honda occupies the fifth spot with 6 percent market share.