Automotive manufacturers in the Philippines started strong for the current year, with their sales growing by more than a quarter for the first month as compared to the same period last year.
Based on the combined report from the Chamber of Automotive Manufacturers Association, January 2014 sales grew by 27.1 percent, accounting for 15,642 units versus the 12,303 units delivered in the same month last year.
Out of the said figures, passenger cars—which holds 33.87 percent of the market—accounted for 5,298 units, which reflects a 26.4-percent rise over the 4,190 units in January 2013—which, at that time, enjoyed a bigger 34.06-percent market share.
Sales of commercial vehicles—that comprises 66.13 percent of the automotive market—grew by 27.5 percent from the 8,113 units sold in January 2013 to 10,334 units rolled out last month.
On a month-on-month comparison, overall sales went down by 9 percent, as December sales reached 17,185 units.
Campi’s top three companies for the month of January were Toyota Motor Philippines (7,062 units sold, 45.15-percent market share), Mitsubishi Motors Philippines Corp. (3,411 units, 21.81-percent share) and Ford Motor Co. Philippines Inc. (1,076 units sold, 6.88-percent share).
Honda Cars Philippines Inc., after holding on to third spot most of the time last year, came in at fourth, selling 1,055 units and grabbing a 6.74-percent market share. Isuzu Philippines Corp. followed with 916 units and 5.86-percent share.