There seems to be no slowing down for Philippine automotive industry as it sets a new mark in terms of monthly and first semester sales in June 2016.
Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reports that auto sales from the month of June 2016 reached 32,993 units representing a 36-percent increase from the same month last year.
Sales from June 2016 has boosted the first semester auto sales by 27-percent for a total of 167,481 units.
Passenger car sales grew by 21.5-percent reaching 11,951 units while commercial vehicles received a 46.7-percent growth selling 21,042 units in June 2016.
Category 5 or Heavy Duty Trucks and Buses in the Commercial Vehicle category had the most growth at 91.1-percent selling 193 units due in large part to ongoing infrastructure developments.
AUVs sold 6,185 units, which is good for 41.3-percent; LCV sales rose by 49-percent or 13,689 units; Light trucks experienced a 41.5-percent rise selling 661 units and Trucks and Buses sold 314 units for a 48.1-percent increase.
“There has been a sustained growth since the start of the year.” CAMPI President Atty. Rommel Gutierrez said. “We remain confident in achieving our initial target for the year with continued supply of vehicles, attractive promos and affordable financing scheme, among others.” he added.
Toyota Motor Philippines Corporation continues to lead the way in sales with 43.4-percent market share; Mitsubishi Motor Philippines Corporation comes in second with 18.1-percent; Ford Motor Philippines finds itself at third with 10-percent share; Isuzu Philippines Corporation comes in at fourth with 7.9-percent and Honda Cars Philippines rounds out the top five with 6.7-percent market share.