THE Philippine automotive industry continues to show strong growth with auto sales in May reaching 23,139 units, up 18 percent from last year’s comparative volume of 19,598 units, according to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).
Auto sales for the first five months were up 20 percent at 107,280 units versus 89,335 units sold last year.
Sales of passenger cars increased 27 percent to 9,556 units in May from 7,507 units a year ago.
Commercial vehicle sales jumped 12 percent to 13,583 units in May from 12,091 units in the same month last year.
Month-on-month, passenger car sales increased 15 percent from April, accounting for the biggest growth in the number of units sold among the categories — from 8,331 units to 9,556 units in May.
The commercial vehicle sector showed a modest 5 percent increase, from 12,928 units in April to 13, 583 units last month. Part of this segment is Category 5 heavy duty trucks and buses, which posted almost a 66 percent growth after selling 101 units in May compared to 61 units in April.
Passenger car sales for the first five months advanced by almost 33 percent, to 42,938 units from 32,331 units in the same period last year, while commercial vehicle sales in the five months to May grew 13 percent to 64,342 units from 57,004 units a year earlier.
Industry officials attributed the growth in auto sales to attractive and flexible financing options and new model introductions from several brands.
“The consistent growth in sales is a continued manifestation of the trust and confidence of consumers in the attractive products and services that are being offered,” said CAMPI president Atty. Rommel Gutierrez.
Campi welcomes the passage of Executive Order 182, the Comprehensive Automotive Resurgence Strategy (CARS). With the onset of motorization, this program will give opportunity to local manufacturers to boost their competitiveness and help strengthen the manufacturing sector to be regionally competitive.
Leading the May 2015 sales was Toyota Motor Philippines Corp. with a 44.6 percent market share, followed by Mitsubishi Motors Philippines Corp. with 19.2 percent.
Ford Motor Philippines was at third place with an 8-percent share, while Isuzu Philippines Corp. was fourth with 7.5 percent. Honda was in fifth place with a 6.3-percent market share.