Vince Pornelos / AutoIndustriya.com Team | November 03, 2014 16:08
Industry can set a new record
Based on the combined sales reports from the Chamber of Automobile Manufacturers of the Philippines, Inc. (CAMPI), the Truck Manufacturing Association (TMA), and the Association of Vehicle Importers and Distributors (AVID), the Philippine automotive industry has already sold 196,740 units from January 2014 to September 2014.
As a group, CAMPI and TMA registered a total growth of 29.18 percent from Q1 to Q3 2014. The group sold 169,727 units year-to-date (YTD) versus 131,381 units compared to the same period last year.
On the other hand, AVID registered a total growth of 18.55 percent from Q1 to Q3 2014 by selling 27,013 units YTD versus 22,785 during the same period in 2013.
Q4 Projections: Industry could breach 270,000 unit mark
Based on the numbers from Q4 2013 and the growth percentages that the CAMPI/TMA and AVID reported, respectively, by our estimates the Philippine auto industry could break through the 270,000 unit mark and set a new industry record.
If CAMPI/TMA continue their strong 29.18% growth (Q1-Q3 2014 vs 2013), their October-December 2013 sales figures of 49,902 units (Q4 2013) will increase significantly. By our computation, CAMPI/TMA can hit 64,463 units for Q4 2014 (projected) should their sales growth be sustained.
If AVID likewise continues their 18.55% growth (Q1-Q3 2014 vs 2013), the group could boost their sales from 8,614 units (Q4 2013) to 10,212 units (Q4 2014 projected).
If those growth percentages are sustained or even exceeded, CAMPI/TMA could register 234,190 units for 2014 while AVID can hit 37,225 units to close out the year, bringing the Philippine auto industry total to 271,415 units.
NOTE: This article contains forward looking projections based on current industry numbers, averages and percentages. Blue cells represent CAMPI/TMA data, Yellow cells represent AVID data and Purple cells represent projections.