Philippine auto sales furthered its gains in October 2019 with an industry total of 37,831 units. Continued improvement in the Philippine economy is credited by industry members as the driving force behind increased consumer demand for passenger and commercial vehicles.
Consolidated sales of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), Truck Manufacturers Association (TMA), and Association of Vehicle Importers and Distributors (AVID) members totaled to 37,831 units, representing an 8.37% increase, selling 2,911 units more than 34,920 unit total the previous month.
Passenger car (PC) sales totaled 11,526 units, covering 30.47% of the market. Passenger car sales were up 4.67% compared to 11,012 units in September. Commercial vehicles (CV) continued to take a larger share of the market at 26,305 units or 69.53% of the market; up 10.03% from 23,908 the previous month.
Light Commercial Vehicles (LCV) led the CV subsegments, comprising 80.92% of CV sales with 20,222 units sold; 6.22% more than last month's 19,037 total. AUV/MPV segment sold 4,780 units, surging 43.07% from 3,341. Truck and bus sales were mostly down. Light truck sales slowed down 2.32%, selling a total of 734 units compared to the previous month's 751 unit total. Category 4 Heavy Duty Truck and Bus sales mildly declined to 385 units (-0.78%) compared to last month's 388 units. Category 5 Heavy Duty Truck and Bus slightly spiked to 144 units, (+9.92%) from last month's 131 units. AVID member Hyundai Asia Resources Inc. logged a total of 40 truck units sold, while JAC Automobile International Philippines Inc. once again, did not disclose any figure.
"Lower inflation, interest rates, and fuel prices coupled with increased consumer spending with the start of the holiday season could boost industry performance. Increased government spending on key infrastructure projects and the jeepney modernization program will further bolster demand, especially for light and heavy commercial vehicles," said Ma. Fe Perez-Agudo, AVID president.
The top five performing manufacturers for the month of October are:
Toyota – 13,403 units (35.43% market share)
Mitsubishi Motors – 5,508 units (14.56% market share)
Nissan – 3,697 (9.77% market share)
Hyundai – 2,856 units (7.55% market share)
Suzuki – 2,206 units (5.83% market share)
After ten months, Toyota Motor Philippines Corporation continues its commanding lead of the market with 38.82-percent. Mitsubishi Motors Philippines Corporation follows in second with 15.41-percent. Nissan Philippines Inc. in a strong third with 10.95%. Hyundai Asia Resources, Inc. is in fourth with 8.24%, and Suzuki Philippines remains up to fifth overall with 5.86-percent.