THE Philippine automotive industry reported another record sales performance in July thanks to automakers’ attractive financial plans and continuous marketing efforts.
The joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) said vehicle sales in July this year reached 29,967 units, or 22 percent higher than the 24,569 units sold in the same month last year.
“With appealing financial plans and continuous marketing efforts, we were able to outshine our record in July 2015. A chunk of last month’s sales record was due to the arrival of the past month’s demand,” Campi president Rommel Gutierrez said in a statement.
The commercial vehicle (CV) segment posted the highest growth of 30.6 percent year-on-year with 18,737 units sold versus 14,348 units in July 2015.
Within the CV segment, Category 2 or light commercial vehicles (LCV) accomplished the biggest increase of 36.2 percent with 11,982 units sold compared to 8,798 units in July last year.
The Category 5 segment (heavy duty trucks and buses) posted 34.6 percent growth to 171 units from 127 units previously, while sales of Category 1 or Asian utility vehicles (AUV) increased 22.5 percent to 5,767 units from 4,709 units last year.
Meanwhile, passenger car (PC) sales in July rose 9.9 percent to 11,230 units from 10,221 units a year ago.
For the first seven months to July, total auto sales reached 197,448 units, with Toyota Motor Philippines Corp. remaining the top performer with a 43.63-percent market share.
Mitsubishi Motors Philippines Corp. was in second place with an 18-percent share, while Ford Motor Co. Philippines Inc. came in third with a 9.88-percent market share.
At fourth place was Isuzu Philippines Corp. with a 7.77-percent share while Honda Cars Philippines Inc. was at fifth place with a 6.51-percent market share.