Eric Tipan / Autoindustriya.com | February 11, 2016 11:25
Auto industry shows stark growth at the start of the year
To say that the Philippine auto industry started the year with a 'bang' is an understatement after the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) released their official joint sales report.
Posting a 27.6-percent increase in January 2016 compared to the same month last year, auto and truck sales reached 23,808 unit sales in just 31 days.
Overall sales of all car and truck segments showed double- to triple-digit increase compared to figures from January 2015.
Commercial vehicles exhibited one of the highest spurts by selling 15,176 units, which is a 32.4-percent increase from the same month last year.
Light commercial vehicles sold 9,768 units last month from 7,483 units a year ago, which is a 29.3-percent increase.
Passenger cars picked up a 19.9-percent with sales of 8,632 units in January.
It was the Asian Utility Vehicles (AUVs) that showed the highest growth with sales of 4,780 units in January 2016, which is good for 34.9-percent growth.
Light trucks, trucks and buses categories IV and V have also improved their sales by 42.5 percent, 52.9 percent, and 188.1 percent, respectively.
Toyota still leads the way with 39-percent of the market share while Mitsubishi comes second with 20-percent. Ford has 10-percent, Isuzu with 8-percent and Honda rounds out the CAMPI group with 7-percent market share.