VEHICLE sales hit record growth in July, rising 32.1 percent from a year earlier to 20,730 units, the highest monthly sales so far, according to data from the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).
The record sales were largely due to strong demand for passenger cars, spurred by aggressive product launches and extensive marketing support to meet customer demand, Campi said.
Both the Passenger Car (PC) and Commercial Vehicle (CV) segments showed vigorous growth compared with the July 2013 results. Sales in the PC segment reached 8,339 units, up 64.6 percent year-on-year, while sales in the CV segment reached 12,391 units, up 16.6 percent from the previous year.
Within the CV category, most segments exceeded year-earlier levels. Sales of AUVs or Asian utility vehicles hit 4,071 units or a 10.4-percent growth; sales of LCVs or light commercial vehicles totaled 7,799 units or a 21-percent increase; while sales of Category 4 and 5 trucks and buses recorded a combined growth of 24.2 percent.
Only light trucks registered a slight drop of 1.5 percent year-on-year to 326 units.
“We are grateful for the market’s continued patronage of the automotive industry despite the recent onslaught of Typhoon Glenda last July causing interruptions in production and transport of supply,” Campi president Rommel Gutierrez said.
“While we were expecting lower results due to the mentioned typhoon, we have still breached the high sales of last month, even higher year-on-year. As for the month of August, we are expecting to have lower to stable sales attributed to lower seasonality for the month,” he said.
Campi said that for the first seven months, vehicle sales reached 129,687 units, up 26 percent from the same period last year.
The top five major players kept their rankings. Toyota Motor Philippines Corp. captured a 45.2 percent share of the market in the first seven months, slightly higher than its 42.9 percent share in the same period last year.
In the second spot was Mitsubishi Motor Philippines Corp. with a 22.2 percent share, followed by Ford Motor Philippines at third place with an 8.2 percent share, and Isuzu Philippines Corp. landing fourth with a 5.7 percent share. Honda Cars Philippines Inc. was at fifth place with a 5.5-percent market share.