Growth brought about by strong light commercial vehicle sales
The Philippine auto industry posted a significant growth of 6.9% in September compared to the month of August. It also fared better compared to the same month last year, showing a growth of 3.4% despite the numerous challenges the industry had to face this year. Overall vehicle sales totaled to 93,385 units with a balance of 31,615 or an average of about 10,540 units per month to be sold for the remainder of the year to be able to reach the target sales of 125,000.
Both passenger cars and commercial vehicle sales recovered and grew by 6.9% with just a minimal decline of 1.7% in PC sales and almost flat for CV year to date sales. Continuing to dominate sales were commercial vehicles, cornering 64.5% of nationwide sales supported by LCV sales which include the popular pick up trucks, vans, and compact wagons. LCVs continue to be the strongest and more resilient segment with an 8.9% overall growth year to date while AUVs showed the strongest growth for the singular month of September posting a 16.8% increase compared to the previous month. The industry continues to remain cautiously optimistic and is still looking at hitting the target of at least a flat growth for this challenging year.
"Currently, the industry is busy coping with the massive volume of vehicles being brought into the dealerships for repair with some having to resort to increasing manpower to keep up with the load and to hasten the repair of customers' vehicles," says Elizabeth Lee, CAMPI President. "CAMPI members have so far extended assistance in the form of lower prices/discounts for parts/ labor/ service for affected vehicles as well as extending work hours just to accommodate the deluge of vehicles being received." she added.
Due to the unfortunate calamity the country has experienced, CAMPI is also working with the government on other possible means to help minimize the 'cost' to vehicle owners - where cost includes the length of time they have to wait for replacement parts. "We are cognizant of the devastation typhoon Ondoy has wrought on our customers and we are here to extend and assist as much as we can, to the best of our ability, within our means," stated Ms. Lee.