Amidst the backdrop of an impending excise tax hike, Philippine auto sales continued its positive momentum in the 3nd quarter of 2017 with 119,513 vehicles sold, based on the latest figures consolidated from distributor groups AVID (Association of Vehicle Importers and Distributors), CAMPI (Chamber of Automotive Manufacturers of the Philippines) and TMA (Truck Manufacturers Association). The figure represented a 5.71% gain against the previous quarter's 113,102 units; and a significant 16.43% increase compared to the same period last year.
Commercial vehicles continued to take the larger chunk of sales for Q3 of 2017, gaining 8.91% to 77,422 units. However, passenger car sales registered a larger gain of 0.2% at 42,091 units.
Still dominating the market is Toyota which sold 46,993 units increasing its market share to 39.34%, Mitsubishi Motors remained 2nd with a slightly improved 15.84% as it sold 18,921 units. Hyundai surged to 3rd with 10,085 units, a 8.44% share. Ford sold 9,293 units, only good for 4th place for the quarter with a 7.78% market share. Honda sold 7,005 units for 5.86% to move up 5th; Isuzu slid down to 6th position with 6,714 units (5.62%); Nissan sold 5,374 (4.75%); and Suzuki rounded up the Top 8 with 4,845 (4.06%).
In summary, the first half of the year performed quite positively with a 14.21% gain selling 218,226 units more compared to the same period last year (191,072 units).
"We maintain our optimism in achieving the year-end target with competitive promotional support and marketing activities to further push vehicle sales," said Atty. Rommel Gutierrez, CAMPI president.
"AVID sales continue to rise as it closed Q3 2017 with a 19% year-on-year growth. This sustained growth further inspires AVID to match the mobility demands of the Filipinos only with top-notch and innovative products and services," said Ms. Ma. Fe Perez-Agudo, AVID president.
In total, the auto industry has sold 337,487 units during the first three quarters of 2017, commercial vehicles remain dominant with a market share of 64.78% and passenger car sales takes the remaining 35.22%.
Toyota continues to outsell all players with 132,733 units covering 39.3% of the market as Mitsubishi Motors seconds with 53,470 units and a 15.84% market share. Hyundai remains in third with 27,451 units (7.96%); Ford is in close fourth with 25,988 units (7.65%); Isuzu is in fifth with 20,939 units (6.52%); Honda Cars ranked sixth with 20,794 units (6.32%); Nissan is seventh with 17,006 units (4.88%); Suzuki is eighth with 13,792 units (4.1%).