Local carmakers on Monday raised expectations on their sales target, saying that the Philippines is gearing toward 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 this year, slightly higher their original target of 200,000 units.
Based on their combined reports, the Campi-TMA sales for the first seven months of the year reached 102,913 units, which is much higher compared to the 87,374 vehicles sold in the comparative period last year. This reflects a 17.8-percent growth.
Campi President Rommel Gutierrez said that during the first half this year, the industry sold 87,226 units versus the 72,871 units, 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 5 percent higher than their original projection of 172,000 units for 2013.
Gutierrez said that with the raised forecast of their group, 36 percent, or around 65,000 units would be from the passenger car segment, while the remaining 64 percent, or 115,000 units, would come from commercial vehicles. 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 [motor vehicle]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 Standard and Poor’s 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 OFWs [overseas Filipino workers]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 reflected an 8-percent spike from the 14,503 units sold in July last year.
The top three performers for Campi were Toyota Motor Philippines with 40-percent share, Mitsubishi Motors Philippines Corp. with 24 percent and Honda Cars Philippines Inc. with 8.4 percent.
In fourth and fifth places were Ford Motor Philippines with 7.3 percent and Isuzu Philippines Corp. with 6.7 percent.
Ruben D. Manahan 4th