With the final sales totals in, 2016 exceeded industry expectations with a 24.88% increase in sales to break the 400,000-unit barrier, setting the highest-ever sales figure for the market.
Based on consolidated reports from Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the Truck Manufacturers Association (TMA), the Association of Vehicle Importers and Distributors (AVID) and one independent distributor resulted in a total of 404,051 units sold for 2016.
Commercial Vehicle sales took a larger share of the market 245,432 units (60.7%) while Passenger Car sales totaled to 158,619 (39.3%).
The Philippine market has consistently set a milestone for the seventh consecutive year, besting 2015's 323,561 sales total owing to favorable financing offers and new model offerings from the country's many manufacturers and distributors.
The country continues to outperform ASEAN region stalwarts Indonesia, Malaysia and Thailand which have experienced a slowdown due to a mix of political and economic factors. Joining the Philippines in double-digit percentage gains are Singapore (46%) and Vietnam (30%).
Further contribution to the positive sales performance for 2016 is the positive input in Q4 with the months of November and December contirbuting significantly with gains in nearly all segments. Auto sales for CAMPI/TMA and AVID members totaled to 109,330 in Q4. Mahindra was added to the grand total for 2016 only as they only provided a year-end total sales figure of 1,048 units.
Top 5 Brands
Toyota remains ahead with a commanding lead of the market with a 39.12% market share with 158,058 units sold. Toyota sales increased by 27.03% over the previous year's 124,426 units.
Mitsubishi is in second with 59,480 units with a 14.72% market share. Remaining as one of the top performing markets for Mitsubishi, MMPC logged a 12.90% increase compared to last year's 52,683 units sold. (Light-duty trucks, CAT-IV and CAT-V trucks were also removed from total as they are now badged as FUSO).
Hyundai returns to the top three with 33,695 units sold with an 8.34% market share. The Korean brand was one of the biggest gainers in 2016 with a 52.76% jump year-on-year against a 22,058 unit total.
Ford followed in fourth, only 7 units behind with a total of 33,688 units with a similar 8.34% market share. The Amercian automaker logs an impressive 32.78% gain compared to the previous year's 25,372 figure.
In fifth is Isuzu which logged 27,361 units sold for 6.77% of the market. The Japanese commercial vehicle specialist gained by 21.17% against last year's 22,581 total.
Honda remained in sixth with 23,199 unis sold, a 20.11% growth year-on-year, breaking into the 20,000-unit group as we forecasted last year.
Nissan continued its surge three years after the Japanese automaker took over as the national sales company. It's 16,897 sales total represents a 47.96% surge from last year's 11,420 total.
Suzuki's sales remained upbeat with a 36.86% gain bringing their 2016 figure to 14,353 against last year's 10,487.
Kia dropped out of the 10,000-unit club with a dismal 2016 performance with 7304 units, it lost 27.03% of its 10,010 volume last year. The Korean brand did not have any new volume models launched in 2016.
Chevrolet also struggled in 2016 as sales took a 19.66% hit with a 5,931 unit total compared to 2015's 7,382 total.
Top 3 Premium Brands
BMW remained the top premium car brand for 2016 with 1,016 units sold, a slight 1.6% advantage over the previous year's 1,000 unit total.
Mercedes-Benz registered the highest sales percentage growth at 19.34% with 943 units sold against 2015's 790 units.
Lexus logged a total of 670 units sold registering an 11.48% gain over last year's 601 figure.
Top 5 Truck Brands
Isuzu topped the truck brands with 6,079 units sold in the Light Truck, Category IV Truck/Bus and Category V Truck/Bus sub-segments.
Hino comes in second with a 2,877 cumulative total, representing a 42.78% surge from last year.
Foton comes in third with 2,147 units sold. There are no figures to compare with from the previous year, as the Chinese truck brand only joined CAMPI in 2016.
Fuso comes in fourth with 1,920 units sold, a significant 36.75% growth from 2015. The first dedicated Fuso commercial vehicle showroom also opened late last year.
Jinbei trucks, distributed by IKK Ichigan rounds up the Top 5 with 453 units sold in 2016. The Chinese brand only joined TMA in 2016, therefore have no 2015 figures to compare with.
Key Movers in 2016
The past year saw many significant movements in terms of brand market share. Some brands significantly grew their market share moving several positions up the order.
Topping the list would be Hyundai, which jumped two positions up to 3rd position from 5th in 2015; a complete turnaround with fresh offerings and aggressive sales promotions saw them grow by 52.76% year-on-year. They sold 11,637 units more vehicles to achieve this with both passenger car and light commercial vehicle offerings.
Nissan comes in second with a 47.96% growth year-on-year, this was realized with a tremedous 173% growth of their passenger car offerings, while their light commercial vehicle offerings contributing 19%.
Suzuki also improved their year-on-year performance with a 36.86% gain brought about by a 63.7% surge in passenger car sales with the introduction of new models.
Ford grew its volume by 32.78% to breach the 30,000 unit level at 33,688, just 7 units shy of Hyundai. It's sales growth was driven primarily by its light commercial vehicles sales of 22,295 units which surged by 51.7%. It is worthy of note that this figure is nearly as much as its total sales in 2015.
A little over three years after Volkswagen's return to the market, it is now in the four-digit sales level with 1,060 units. Distributor ACEI sold 458 units more than 2015 for a 76.08% gain.
In the light to heavy duty trucks segment, Isuzu, Hino and Fuso were the top movers realizing significant growth brought about by heavy business activity in construction, logistics and mining sectors.
Overall, the industry expects to continue its growth to continue and maybe exceed initial targets by the end of 2017. However, a looming vehicle excise tax hike with implementation by 2018 could be seen as a major hurdle to auto sales and manufacturer targets, especially for those who availed of the Board of Investment's (BOI) CARS (Comprehensive Automotive Resurgence Strategy) Program.