The Philippine automotive industry showed further growth and achieved yet another monthly sales record for May. In a report issued by the joint meeting of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), sales last month reached 30,317 units, a 31 percent increase against the May 2015 figure of 27,697 units. Total auto sales for 2016 are now at 134,488 units, up by 25 percent in the year-to-date growth over 107,280 units of the same period last year.
Both Passenger Car (PC) and Commercial Vehicle (CV) segments’ sales posted better than May 2015 results. The PC segment went up by 14 percent with 10,893 units sold from 9,556 units in May last year. The industry’s stiffer competition complemented with stock availability drove the sales high as new and refreshed models were introduced to the market.
The CV segment on the other hand rose to 19,424 units with an increase of 43% from 13,583 units. Category 1 (AUV) sales reached 5,426 units which is a 34 percent rise from May 2015’s 4,060 units. For Category 2 (LCV) made 12,867 units or 45 percent gain over 8,903 units while Category 3 (Light Trucks) accomplished 704 units or 102% surge from 349 units. Category 4 (Trucks & Buses) attained 283 units or 57 percent growth over 180 units and Category 5 (Heavy Duty Trucks & Buses) achieved 144 units or 58 percent increase over 91 units.
“With another impressive sales figure, we can see that there has been continuous demand for mobility. We expect new models to reach the market with positive response as we also look at July figures to have a stable to higher sales performance,” explained by CAMPI President Atty. Rommel Gutierrez.
As of May, Toyota Motor Philippines Corporation's share of the market expanded further by occupying 42.95 of Philippine vehicle sales. In second is Mitsubishi Motor Philippines Corporation with 18.29 percent while Ford Motor Company Philippines, Inc. is in the third spot with 10.38 percent share. With strong commercial vehicle sales, Isuzu Philippines Corporation sits at fourth position with 8.04 percent. Rounding up the top five in vehicle sales is Honda Cars Philippines with a 6.69 percent market share.