Philippine auto sales opened 2019 with a slow start as it showed 30,287 units sold, as reported by members of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), Truck Manufacturers Association (TMA), and Association of Vehicle Distributors (AVID).
2019 ushers in the full effects of the TRAIN law which took full effect last year. Sales declined 15% in 2018 due to higher prices on most vehicle segments and saw the shift towards pick-up models which benefitted from zero excise tax brought about by the new taxation scheme. High fuel cost in addition to new excise taxes on petroleum products was also seen as a major deterrent in the purchase of new vehicle last year.
January’s 30,287 unit sales figure shows a 14.82% decline when compared to 35,556 units the same month last year. Leading the losses was the Commercial Vehicle segment with 21.47% as the Passenger Car segment reflected a 16.65% decline.
Passenger car (PC) sales totaled 10,055 units, covering 33.2% of the market. Commercial vehicles (CV) continued to dominate the market at 20,232 units or 66.8% of the market.
Light Commercial Vehicles (LCV) led the CV subsegments, comprising 81.72% of CV sales with 16,783 units sold; 1.2% less than last year's 15,218 total. AUV/MPV segment sold 2,410 units, down 58.5% from 5,811. Truck and bus sales were mostly up. Light truck sales jumped 32.6%, selling a total of 512 units compared to the previous year's 386 unit total. Category 4 Heavy Duty Truck and Bus sales totaled 332 units (+11%) compared to last year's 299 units. Category 5 Heavy Duty Truck and Bus slid down to 110 units, (-22%) compared to last year's 141 units.
The top five performing manufacturers for the month of January are:
1. Toyota – 11,355 units (37.49% market share)
2. Mitsubishi – 5,239 units (17.29% market share)
3. Nissan – 3,100 units (10.29% market share)
4. Hyundai - 2,795 units (9.22% market share)
5. Honda– 1,943 units (6.41% market share)
Toyota Motor Philippines Corporation continues its commanding lead of the market with 37.49-percent. Mitsubishi Motors Philippines Corporation follows in second with 17.29-percent. Nissan Philippines Inc. in strong third with 10.29%. Hyundai Asia Resources, Inc. is in fourth with 9.22%, and Honda Cars Philippines, Inc. in fifth position with 6.41-percent.