Car sales increase by a third in May

Data jointly released on Wednesday by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed the groups’ member companies sold 30,157 vehicles in May, compared to 23,139 units in last year’s comparable month. The group reported 27,697 deliveries in April.

 

“With another impressive sales figure, we can see that there has been continuous demand for mobility. We expect new models to reach the market with positive response as we also look at July figures to have a stable to higher sales performance,” Rommel R. Gutierrez, president of CAMPI and a first vice-president at Toyota Motor Philippines (TMP) said in a statement.

 

Combined CAMPI and TMA sales since the start of 2016 totaled 134,328 units, a 25.2% improvement from the 107,280 units sold in 2015’s first five months.

 

Another domestic auto industry group, the Association of Vehicle Importers and Distributors, reports its member companies’ sales separately.

 

Commercial vehicles accounted for 60%, or 19,264 units, of CAMPI’s and TMA’s sales in May, jumping 41.8% from the 13,583-unit total the segment recorded in 2015’s comparable month. Deliveries of commercial vehicles totaled to 83,719 units from January to May, a 30.1% increase from a year ago.

 

Sales of passenger cars rose 14% to 10,893 units last month from May 2015’s 9,556 vehicles. The segment grew 17.9% year on year in 2016’s first five months to 50,609 units.

 

The groups attributed the increase in sales to “stiffer competition” as well as the introduction of new and improved models.

 

“The industry’s stiffer competition complemented with stock availability drove the sales high as new and refreshed models were introduced to the market,” the groups’ statement read.

 

All types of commercial vehicles performed better in May compared to 2015’s comparable month.

 

Sales of Asian Utility Vehicles grew 33.6% to 5,426 units, while those of light commercial vehicles — mostly pickups and SUVs — increased by 44.5% to 12,862 vehicles, light-duty trucks by 66.5% to 581 units, medium-duty trucks and buses by 40.6% to 253 units and those of heavy-duty trucks and buses by 56% to 142 vehicles.

 

TMP continued to dominate the domestic auto industry with a 43% share of the market in May. Following Toyota in CAMPI’s and TMA’s tally for the same month were Mitsubishi Motors Philippines Corp. with an 18.31% share, Ford Motor Company Philippines, Inc. with 10.39%, Isuzu Philippines Corp. with 8.05%, and Honda Cars Philippines, Inc. with 6.69%.

Source: Bworld Online