AUTO INDUSTRY NEWS

Philippine Auto Sales take 1.0% dip in October 2016

Philippine Auto Sales take 1.0% dip in October 2016 image

Brent Co / AutoIndustriya.com | November 14, 2016 19:01

Market remains upbeat with 8.6% percent compared to previous year

Philippine auto sales were slightly down in October with a total figure of 31,132 units (-1.0%) compared to September. This was based on a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).

Last month's slight decline was mainly due to lower passenger car (-5.0%) and light commercial vehicle (-1.3%) sales. However, it was still within the industry's growth targets as it outpaced October 2015 numbers by 8.6%.

Passenger car (PC) sales totaled 11,499 units, covering 36.94% of the market, 5.0% lower than September 2016 numbers, but 2.3% higher when compared to October 2015. Commercial vehicles continued to capture the bigger chunk of the market at 19,633 units or 63.06% of the market; CV sales were up 1.5% compared to the previous month, and 12.6% more than October 2015.

The Commercial Vehicle sub-segments were still led by Light Commercial Vehicles (LCV), comprising 61.22% of CV sales with 12,020 units sold; 1.3% lower compared to the previous month's 12,174 total. AUV/MPV sales, however were quite upbeat at 6,231 units, growing 4.7% compared to 5,954 last month. Truck sales were brisk as company fleets further signify their confidence in the Philippine economy with further investment in brand new light duty to heavy trucks and buses. Light truck sales gained 11.7%, selling a total of 842 units compared to the previous month's 754 unit total. Category 4 Heavy Duty Truck and Bus sales totaled 347 units (+5.25%) compared to last month's 330 units. Representing a significant increase was Category 5 Heavy Duty Truck and Bus which sold 193 units, (+49.6%) compared to last month's 129 units.

The top five performing manufacturers for the month of October are:

1. Toyota – 14,794 units (47.52% market share)

2. Mitsubishi – 4,920 units (15.80% market share)

3. Ford – 2,470 units (7.93% market share)

4. Isuzu – 2,296 units (7.38% market share)

5. Honda – 1,70 units (5.69% market share)

"With continuous marketing efforts and attractive deals from our brand principals, auto sales performance continues to be strong at the beginning of fourth quarter. We expect the market demand to remain robust until the end of the year," according to Atty. Rommel Gutierrez, CAMPI president.

The total number of units sold by CAMPI and TMA members amount to 292,502 units, ten months into 2016; a 24.5-percent increase compared to last year's figure. Toyota Motor Philippines Corporation continues its commanding lead of the market with 44.18-percent. Mitsubishi Motors Philippines Corporation follows in second with 17.18-percent. Ford Motor Company Philippines, Inc. remains in third with 9.39-percent. Isuzu Philippines Corporation is in fourth position with 7.46-percent, with Honda Cars Philippines, Inc. rounding up the top five with 6.42-percent.