July sales up at 24,569 vehicles vs 20,730 yr-earlier
The Philippine automotive industry continued to expand in July, achieving year-on-year growth of 18.5 percent, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Trucks Manufacturers Association (TMA) said in a joint report on Tuesday.
The industry sold 24,569 vehicles that month, up 18.5 percent from 20,730 vehicles sold in the corresponding month in 2014, the report said.
July 2015 holds the record of having the biggest number of units sold, bringing the year-to-date total to 156,034 units, up 20 percent over sales of 129,687 units a year earlier. Last month’s sale topped the June performance at 24,185 units by a modest 2 percent.
All categories recorded growth: the passenger car category sold 10,221 units, garnering an almost 23 percent increase over the 8,339 units sold in July 2014. This is also an increase of 4 percent compared with June 2015 sales of 9,840 units.
Similar to the previous months, the rise was mainly driven by the availability of certain sub-compact cars and continuous attractive marketing efforts by industry players.
For commercial vehicles, the segment gained 16 percent, having sold 14,348 units versus 12,391 a year earlier. Commercial vehicles I and II (AUVs and SUVs) also pushed their growth, with sales of 4,709 and 8,798, respectively.
Despite having exceeded target goal, the heavy-duty vehicles category still performed remarkably, with 127 units sold, compared with 30 units in the same month last year and 101 units in June 2015.
“This is a very good start for the second semester, which normally accounts for a bigger share of the whole year’s target,” CAMPI President Rommel Gutierrez said.
“We are confident that the market will remain strong and industry will respond by bringing in new stocks in preparation for the demand peak towards the end of the year,” Gutierrez added.
Toyota Motors Philippines Corp. (TMPC) continues to lead the industry with a 43.8 percent market share. Mitsubishi Motors Philippines Corp. (MMPC) follows in second place with 19.1 percent. Isuzu Philippines Corporation (IPC) and Ford Motor Company Philippines Inc. share a very tight fourth and fifth with 7.9 percent and 7.8 percent, respectively. Honda Cars Philippines sits at fifth with a 6.7 percent market share.
TMPC, the leading automotive brand in the country, registered 10,678 units in a single month in July.
Coming from its last sales record in May with 10,511 units, Toyota surpassed its own monthly sales performance after just two months. This is the first time any local car manufacturer has achieved such sales volume.