Commercial Vehicles continue to dominate sales for March
Commercial Vehicle sales continue to dominate the market with a 65% share of overall vehicle sales and 17,036 unit sales so far. For the month of March alone, the automotive industry sold 10,206 units showing a significant jump in sales of 20.4% from February sales. Overall year-to-date sales for the same period (Jan-Mar 2006 vs 2007) registered an 18.7% increase in sales as well. Passenger Car sales performed well for the month with a 42.7% growth while Commercial Vehicles contributed 9.3% growth for the month. For year-to-date sales figures, CV has grown 24% so far while PC growth is at 9.9% for the year. Total auto industry is doing well for the 1st quarter relative to the same period last year. Pre- Holy Week purchases with better market response to promotions also helped boost sales for the month.
Month on month PC sales (March vs Feb) increased significantly by 42.7% due to the introduction of new models, dealer incentives and existing promos. Also, YTD Passenger car sales increased by 9.9% due to sustained sales of new models.
Month on month sales of CVs increased by 9.3% in March compared to February sales with year-to-date sales rising significantly by 24.1% so far. Increase in sales compared to the same period last year is due to the numerous exciting new model introductions this early in the year coupled with fleet sales deliveries. More than half (53%) of total CV sales are Light commercial vehicles while AUVs corner 43% share of total CV sales with both segments having registered significant sales so far as well.
MTD March AUV posted an increase of 6.4% mainly due to extensive promos, unit availability and delivery to fleet customers.YTD sales also increased significantly by 31.8% compared to the same period last year due to the sustained sales of new models.
The LCV segment continues to be the segment to watch with overall year-to-date sales growth of 17.5% with over 9,000 units sold so far. For the first quarter, several models have been introduced making this segment a most competitive and exciting segment to follow. With the breadth of model types that include pickups, vans, compact and full-size SUVs, this segment will remain a key segment mover in the CV category. March sales rose by 10.8% compared to Feb sales.
Light Trucks sales increased significantly by 25.3% compared to the same period last year sustained by sales of new models. For this month, this segment also increased by 15.5% compared to February due to stock availability and delivered fleet accounts.
Cat IV & V sales for March increased by 43.8% compared to the month of February due to the pre Holy Week fleet account deliveries. Compared to the same period last year (Jan-March 2006), sales increased significantly by 86.7%. Growth was mainly driven by sales of the front engine bus models.