AUTO INDUSTRY NEWS

Philippine auto sales back in the green in October 2017

Philippine auto sales back in the green in October 2017 image

Brent Co / AutoIndustriya.com | November 20, 2017 15:47

Auto sales gain 6-percent in October steering back towards positive trend of 2017

Philippine auto sales bounced back into the green after three consecutive months of decline. The latest report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). October sales registered 36,511 units sold which resulted in a 6% gain compared to the previous month.

Year-to-date growth continues to be optimistic with 339,380 units sold from January to October, a 16% growth compared to last year's 292,502 units. Passenger car sales remain optimistic at +4.4% while Commercial vehicle sales remain healthy at +22.9%.

Compared to the same month in 2016, October 2017 reflected a 17.3% gain against the 31,132 unit total the previous year.

Comparing with the previous month, Passenger Car sales surged by 11.1%, while Commercial Vehicle sales grew by 3.7%. Still driving industry sales was the Commercial Vehicle segment which sold a total of 24,825 units, capturing 67.99% of the market. Passenger Car sales totaled 11,686, taking the remaining 32.01% share of the pie.

"October sales result increased compared to September sales result because of the continued robust trend as the year comes to an end. Higher sales for October was driven by the continued surge in demand as well as promotional support to further support the key models. The outlook for the succeeding months remains strong, driven by the good sales performance of key models from major players. In addition to this is the competitive promotional support and marketing activities to further push vehicles," according to CAMPI president Atty. Rommel Gutierrez.

The Commercial Vehicle sub-segments were still led by Light Commercial Vehicles (LCV), comprising 66.55% of CV sales with 16,521 units sold; 2.4% more than last month's 16,137 total. AUV/MPV segment sold 6,858 units, an 14.7% surge from 5,981 last month. Truck and bus sales were mostly negative. Light truck sales dropped 25.6%, selling a total of 809 units compared to the previous month's 1,088 unit total. Category 4 Heavy Duty Truck and Bus sales totaled 412 units (-21.5%) compared to last month's 525 units. Category 5 Heavy Duty Truck and Bus were up with 225 units sold, (+13.6%) compared to last month's 198 units.

Sales performance were mostly positive for most brands in October. The top 3 advancers*: Volkswagen (ACEI) experienced 63.8% gain due to deliveries of pending units, BMW (ACC) sales continued to gain by 36.3%, Mazda (BAP) saw a 27.7% increase in sales. Top three decliners for October* were Ford (FGP) with a 17.6% drop despite continued aggressive sales promos, Nissan (NPI) with a 8.1% decline, and Isuzu (IPC) down by 3.6%.

*only brands selling more than 100 units per month were included.

The top five performing manufacturers for the month of October are:

1. Toyota – 16,612 units (45.5% market share)

2. Mitsubishi – 6,281 units (17.2% market share)

3. Honda – 2,893 units (7.92% market share)

4. Ford– 2,598 units (7.12% market share)

5. Isuzu – 2,152 units (5.89% market share)

The total count for the first ten months of 2017 sees Toyota Motor Philippines Corporation with its commanding lead of the market with 44-percent. Mitsubishi Motors Philippines Corporation followed in second with 17.61-percent. Ford Motor Company Philippines, Inc. remains in third with 8.42-percent. Honda Cars Philippines, Inc. retains fourth with 6.98-percent, Isuzu Philippines, Corp. holds fifth position with 6.70-percent.