Auto industry gets Sept. boost with 16.6 % growth
The auto industry continues to strengthen its market performance, posting a growth of 16.6% compared to the same period last year, selling 84,050 vehicle units for the period of January-September. Month on month sales showed a 11.8% increase, selling 10,485 units for the month of September. The continued double-digit growth is seen to continue for the rest of the year should the economic environment remain robust. The last quarter will be most exciting for buyers as last quarter push to meet year-end sales target will be supported by promotions and programs to sustain momentum until the year's end.
The sales for the passenger car (PC) segment still proved to be strong as it sustained its growth contributed by the arrival of stocks and active sales campaigns. For the year, 29,562 units were already sold, equivalent to 5.7%increase and for the month on month sales, it posted a 14.5% increase.
CV (Commercial vehicle) sales continue to dominate the market with a significant growth of 23.5% (year to date). September sales also increased by 10.3% versus the ghost month of August.
New models for the Asian utility vehicle (AUV)/MPV (multipurpose vehicle) segment continues to support the strong growth with a 22,776 unit sales for the January-September 2007, period yielding a 26.3% growth so far. Month on month sales also increased by eight percent due to fleet sales account deliveries and continuous promotional activities.
Sales of the LCV (light CV) segment continue to be the strongest CV segment with 29,558 units sold so far yielding a 21.2% increase. The popular vans, pick up trucks, and compact wagons are the source of growth for the segment. With the upcoming busy Christmas season, sales of vehicles in the LCV segment will be stronger with entrepreneurs taking advantage of promotions, purchasing vehicles such as vans and pick ups for business use. As expected, the LCV segment continues to post a strong 13.4% increase in September from August sales.
Light trucks sales sustained its growth with a significant increase of 27.5% compared to the same period last year and 8.5% versus August, contributed by the sales of new models and fleet account deliveries.
Another CV segment which continues to move forward is the Category IV and V (truck and bus) category which posted a growth of 29.7% compared to the same period last year (Jan-September 2006). Growth was mainly driven by sales of the front and rear engine bus models. However, for the month of September, Category IV decreased by 35.2% due to production problems and completed fleet deliveries for last month."