After tabulating the combined sales of the Chamber of Automotime Manufacturers of the Philippines, Inc. (CAMPI), the Truck Manufacturers Association (TMA) and the Association of Vehicle Importers and Distributors, Inc. (AVID), the Philippine automobile industry has garnered a 26.3% growth in January 2014 versus the same month last year. In Jan. 2013, the combined sales of AVID, CAMPI and TMA was at 14,854 units while sales from Jan. 2014 accounted for 18,761 units.
Leading the way is Toyota (TMPC) with 7,062 units, followed by Mitsubishi (MMPC) with 3,411 units and Hyundai with 2,243 units. Ford was able to get 4th overall with 1,076 units sold, overtaking Honda in 5th with 1,055 units sold; a mere 21 units between them.
In terms of units sold, Toyota (TMPC) has increased their January sales by a massive 2,377 units overall for a growth percentage of 50.7%. Mitsubishi (MMPC) increased sales by 561 units, followed by Chevrolet (TCCCI) with 262 units more than the same period last year.
In terms of growth percentages, it is Mazda (BAPI) that increased their sales by an incredible 374.4% over the first month of 2013.
Not everyone started 2014 off on the best note. Honda (HCPI) had a challenging opener to 2014, as the company experienced a dip in sales by 317 units or 23.1%, and as a result, Honda was overtaken by Ford in the rankings. That won't stand for long, however, as Honda is planning a long list of new car launches in the coming months.
Kia (CAC), too, had a bit of a hiccup in January, selling 43 less units or -7.3% year-on-year.
CAMPI expects the entire industry to grow in 2014 by 10%. If these initial sales are any indication, they might have been a bit modest at that estimate.