Philippine Auto Industry Grows 17% Increase for May 2017
July 7, 2017
In a combined sales reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (“CAMPI”) and the Truck Manufacturers Association (“TMA”), Philippine Automotive Industry displays 17 percent growth with units sold reaching 35,469 for the month of May 2017. This jump came from 30,317 units sold during the same month last year.
Both Passenger Car (“PC”) and Commercial Vehicle (“CV”) segments increased sales compared with May 2016 performance. The PC segment managed 11,690 units with nearly 33 percent growth from 10,893 units sold of the same month last year. The CV segment achieved 22.4 percent increase with 23,779 units sold from 19,424 units sold also during May 2016.
Most categories within the CV segment have exceeded sales records of May 2016. The biggest sales among the categories is Category 2 (LCVs) which accomplished 16.5 percent surge and 14,984 units sold from 12,867 units sold of the same period last year. Category 5 (Trucks & Buses) is the only category decreased in sales with 9 percent decline and 131 units sold from 144 units sold during May 2016.
“Sustained marketing efforts continue to push sales as reflected in May sales performance,” CAMPI President Atty. Rommel Gutierrez said.
With year-to-date automotive sales reaching 158,533 units, leading the sales is Toyota Motor Philippines Corporation with 43.67 percent market share. Mitsubishi Motors Philippines Corporation comes in second with 17.83 percent. Third leader is Ford Motor Company Philippines, Inc. with 8.47 percent market share. Isuzu Philippines Corporation is at fourth spot with 7.02 percent. At fifth place is Honda Cars Philippines, Inc. with 7 percent market share.
