Members of the country’s automotive manufacturing group said on Tuesday that they posted sales growth of more than a quarter during the first four months of the year.
Based on the combined reports from members of the Chamber of Automobile
Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association, year-to-date sales reached 56,590 units for the first four months of 2013 compared to the 44,428 units sold during the same period in 2012, reflecting a 27.4-percent increase.
Passenger car sales reached 18,512 units versus the 13,139 units in 2012, showing a 41-percent increase. Also, the overall industry share of passenger cars rose from 29.6 percent to 33 percent.
Commercial vehicles comprised 67 percent of total sales, with 38,078 units, which is 22 percent higher than the 31,289 units rolled out during the same period last year.
Truck and bus sales also showed good results after gaining 62 percent with 580 units sold for this year, as compared to the 358 unit sales last year.
Campi President Rommel Gutierrez said that besides the bus re-fleeting program, they have seen an increase in demand for commercial vehicles from the construction sector doing mostly private-sector projects.
He said that industry is confident that it will reach and even exceed the 200,000 initial sales volume target for the entire year.
“There’s a strong correlation between the growth of the economy and automotive sales.
The recent upgrades in the Philippine investment ratings are expected to further boost the economy; thus, we don’t expect any slowing down in the performance of the sector which may even hit the 210,000-mark by the end of this year,” he added.
The top three performers for the first four months of 2013 are: Toyota Motors Philippines Corp. with 41-percent market share; Mitsubishi Motors Philippines with 24 percent; and Honda Cars Philippines Inc. with 8.8 percent.
Both at the fourth spot with 6.7-percent share each are Isuzu Philippines Corp. and Ford Philippines.
Ruben D. Manahan 4th