The Chamber of Automotive Manufacturers of the Philippines (CAMPI) ended the 3rd quarter on a high note posting 6% growth. Based on September’s report, CAMPI registered 111,582 units as compared to 105,306 units in the same period last year.
For the month of September, manufacturers have finally made up for lost sales opportunities brought by the recent monsoon rains, CAMPI tallied 12,856 units providing great momentum coming in to the last quarter of the year.
CAMPI’s performance can be attributed to the continued strength that the Philippine economy has shown this year. Moreover, the influx of new model introductions has boosted industry sales.
For the year, Toyota Motor Philippines increased its share garnering 41.5% of the market. The Japanese manufacturer is followed by Mitsubishi and Honda with 22.3% and 8.3% market share respectively.
In a statement CAMPI President Atty. Rommel Gutierrez expressed “We are very pleased with CAMPI’s performance for September. Manufacturers are back on track and have made up for lost sales opportunities from the previous month. In addition to this, the industry ended the 3rd quarter on a high note providing momentum for the last quarter of the year.”