MOTOR vehicles sales in October rose 8.6 percent over same month last year on sustained robust market demand, with Toyota Motor Philippines Corp. retaining its rank as market leader, an auto industry report said over the weekend.
In a report, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) said total vehicles sold in October reached 31,132 units compared to last year’s 28,667 units.
“With continuous marketing efforts and attractive deals from our brand principals, auto sales performance continues to be strong at the beginning of the fourth quarter. We expect the market demand to remain robust until the end of the year,” said Rommel Gutierrez, president of Campi.
Sales of both Passenger Car (PC) and Commercial Vehicle (CV) segments increased compared with October 2015 results.
The PC segment recorded a 2.3 percent increase at 11,499 units sold compared to 11,235 units sold in October last year. The CV segment saw sales grow 8.6 percent at 19,633 units sold versus 28,667 units in October 2015.
Within the CV segment, most categories thrived significantly. On a year-on-year comparison, sales under Category I (AUVs) soared 42.4 percent at 6,231 units sold in October from 4,377 units in the same month last year. Under Category III (Light Trucks and Buses), sales rose 70.1 percent with 842 units sold from 495 units sold a year ago.
Category IV (Heavy Duty Trucks and Buses) posted an 84.6 percent surge with 347 units sold from 188 units sold in the same month last year. Sales under Category V (Heavy Duty Trucks and Buses) grew 53.2 percent with 193 units sold from 126 units sold the year before.
Only Category II (SUVs) posted lower sales, down 1.8 percent with 12,020 units sold in October compared to 12,246 units sold last year, the report said.
The report said that from January to October this year, total automotive sales reached 292,502 units.
Toyota Motor Philippines remains the market leader with a 44.18-percent market share. In the second spot is Mitsubishi Motor Philippines Corp. with a 17.18-percent market share. Ford Motor Philippines Inc. is at third place with a 9.39-percent share. At fourth is Isuzu Philippines Corp. with a 7.46-percent share; followed by Honda Cars Philippines Inc. with a 6.42-percent market share.