Auto sales continue to rise as the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported a 21.7-percent increase in vehicle sales in February 2016.
A healthy and robust automotive market gained an additional 25,150 vehicles last month compared to only 20,663 units from the same month last year.
That has constituted a 20-percent growth for two consecutive months at the start of 2016.
Passenger cars, commercial vehicles, Asian utility vehicles (AUVs) and light commercial vehicles (LCV) all gained growth from between 21- to 24-percent.
But the big February contributor was the 15,331 units from commercial vehicle sales, that’s an increase of 22.5-percent from the numbers it posted in February 2015.
Sales of LCVs went up by 21.7-percent while passenger cars sold 1,670 more units compared to last year giving it an increase of 20.5-percent.
The demand for AUVs also rose as it sold 4,419 units last month compared to 3,562 units in February last year.
Sales of light trucks grew by 29.7-percent while sales of trucks and buses categories IV and V also went up by 3.9- and 31.3-percent respectively.
In the first two months of the year, sales of CAMPI and TMA members grew by 24.5-percent, hitting 48,958 units.
“So far, it has been a good start for the auto industry. Demand for mobility continues and industry players are ready to respond to the needs and demands of consumers,” said CAMPI President Rommel Gutierrez.
Top five market leaders for in the two-month period are Toyota, Mitsubishi, Ford, Isuzu, and Honda.