LOCAL carmakers on Monday raised their expectations on their sales target, saying that the Philippines is gearing towards full motorization.
The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) claimed that industry sales might reach 210,000, slightly higher their original target of 200,000.
Based on their combined reports, the Campi-TMA sales for the first seven months had already reached 102,913 units sold compared to last year’s same period which received 87,374 vehicle sales, reflecting a 17.8 percent growth.
Campi president Rommel Gutierrez said that during the first half this year, the industry already reached 87,226 units versus the 72,871, showing a 19.7 percent increase in sales.
Further, he said that they are eyeing to sell an average of 15,500 vehicles monthly, for the second half which would translate to an additional of 93,000 units for the second semester “to attain total sales of more than 180,000 units”, which is five percent higher than their original projection of 172,000 units for 2013.
Gutierrez said that with the raised forecast for their group, 36 percent or around 65,000 units would comprised of the passenger car segment while the remaining 64 percent or 115,000 units would come from the the commercial vehicles. The
Together with the sale of other importers, the total industry sales target for 2013 is expected to go up to 210,000.
“The country’s continued strong performance earning it the title of being the new tiger economy augers well for the industry. Surely we are now on the road to full motorization,” Gutierrez said.
He also noted the country’s bullish economy after its recent upgrade into investment grade status by S&P, which is “expected to bring in more investments not only in the stock market but in real manufacturing ventures.”
“In the domestic scene, the second half of the year is usually the time for introducing new models and bigger promotion packages. The entry of new players is also expected to contribute to more models. The latter part of the year will bring in increased OFW remittances leading to bigger purchasing power,” he added.
On a month-on-month basis, joint Campi-TMA sales reached 15,686 units for July this year, showing a 10 percent increase over previous month’s 14,239 units. It also reflectec an eight percent spike from July last year’s 14,503 units.
The top three performers for Campi were Toyota Motor Philippines (TMP) with 40 percent share, Mitsubishi Motors Philippines Corp. (MMPC) with 24 percent and Honda Cars Philippines Inc. (HCPI) with 8.4 percent.
On fourth and fifth place were Ford Motor Philippines with 7.3 percent and Isuzu Philippines Corporation with 6.7 percent respectively.