Higher auto retail prices and inflation continue to slow down auto sales according to the latest consolidated report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). Reports to-date showed a 4.4% decline in July 2018 with 28,060 units sold, compared to the previous month's 29,395 unit sales total.
Sales were in the red for most segments, as the industry reported an overall decline of 24.1% compared to the previous year's 36,951 unit total.
The Commercial Vehicle segment also reflected a 2.4% decline as the Passenger Car segment continued its downward trend with 10.2%.
Passenger car (PC) sales totaled 6,997 units, covering 24.94% of the market. Commercial vehicles (CV) still covered most of the sales at 21,063 units or 75.06% of the market.
Light Commercial Vehicles (LCV) led the CV subsegments, comprising 74.77% of CV sales with 15,749 units sold; bucking the downtrend with 3.8% more than last month's 15,179 total. The AUV/MPV segment on the other hand sold 3,995 units, down sharply by 21.1% from 5,061. Truck and bus sales were mostly up, light truck sales gained 4.1%, selling a total of 735 units compared to previous month's 706 unit total. Category 4 Heavy Duty Truck and Bus sales totaled 455 units (+2.2%) compared to last month's 445 units. Category 5 Heavy Duty Truck and Bus sold 129 units, (-33.2%) compared to last month's 193 units.
Sales performances were positive for most brands. The top 3 advancers*: Kia (CAC) recovered 49.1% after a 30.3% drop last month; Suzuki (SPI) sales went up by 9.3%; Nissan (NPI) increased by 4.3%. Top three decliners* were Mitsubishi (MMPC) with a 19.6% drop; Honda (HCPI) sales declined by 15%; Mazda (BAPI) rounded up the top three decliners with a 3% downtrend.
*only brands selling more than 100 units per month were included.
The top five performing manufacturers for the month of July are:
1. Toyota – 11,265 units (40.15% market share)
2. Mitsubishi – 5,321 units (18.96% market share)
3. Nissan – 2,869 units (10.22% market share)
4. Ford – 2,177 units (7.76% market share)
5. Honda – 1,751 units (6.24% market share)
Toyota Motor Philippines Corporation continues its commanding lead in the market with 42.28 percent. Mitsubishi Motors Philippines Corporation follows in second with 19.45-percent. Nissan improves on its third position standing with 8.06-percent. Ford remains in fourth with 7.36-percent and Honda Cars Philippines, Inc. rounds up the top five with 6.9-percent.