AUTO INDUSTRY NEWS

Philippine auto sales remain strong despite slight decline in July 2017

Philippine auto sales remain strong despite slight decline in July 2017  image

Brent Co / AutoIndustriya.com | August 10, 2017 16:44

CAMPI/TMA members report 36,951 units sold in July 2017, 1.8% decline vs June

Philippine auto sales remain opened strong for the second half of 2017 with 36,951 vehicles sold in July according to the latest report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). While it may have posted a slight decline of 1.8% compared to the previous month, year-to-date growth still remained optimistic with an 18.1% growth. Passenger car sales were slightly down by 7.1% while Commercial vehicle sales remained positive with a 1.2% gain.

Compared to the previous year, the figure reflects a 23.3% gain against the 29,967 unit total. Passenger Car sales went up by 13.1%, while Commercial Vehicle sales managed a 29.4% growth.

Still driving industry sales was the Commercial Vehicle segment which sold a total of 24,250 units, capturing 65.63% of the market. Passenger Car sales totaled 12,701, taking the remaining 34.37% share of the pie.

“We remain cautious as we enter the 2nd half of the year. While monthly vehicle sales appear to continue to be strong, our initial overall market outlook for the year has not changed. As the original sales target by year-end looks achievable, we will continue to be vigilant with actual vehicle sales in the coming months,” according to CAMPI president Atty. Rommel Gutierrez.

The Commercial Vehicle sub-segments were still led by Light Commercial Vehicles (LCV), comprising 61.86% of CV sales with 15,000 units sold; 1.8% less than last month's 15,278 total. AUV/MPV sales regained momentum with 7,764 units, a 4.7% uptick compared to 7,414 last month. Truck and bus sales resumed their gains as the demand for infrastructure, construction and transport continues. Light truck sales gained 13.2%, selling a total of 848 units compared to the previous month's 749 unit total. Category 4 Heavy Duty Truck and Bus sales totaled 418 units (+17.4%) compared to last month's 356 units. Category 5 Heavy Duty Truck and Bus also recovered with 220 units sold, (+40.1%) compared to last month's 157 units.

Sales performance were mostly flat for most brands in July. The top 3 advancers*: Mercedes-Benz (ANG) sales jumped up by 141.3%, Volkswagen (ACEI) sales increased by 18.5%, and BMW (ACC) with a 18.4% uptrend. Top three decliners for July* were Isuzu (IPC) with a 35.1% drop, Honda (HCPI) with a 25.5% decline, and Ford (FGP) with a 9.2% decline.

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

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

1. Toyota – 17,000 units (46.22% market share)

2. Mitsubishi – 6,600 units (17.86% market share)

3. Ford– 2,973 units (8.05% market share)

4. Isuzu – 2,011 units (5.44% market share)

5. Honda – 2,010 units (5.44% market share)

The total count for the first seven months of 2017 sees Toyota Motor Philippines Corporation with its commanding lead of the market with 44.1-percent. Mitsubishi Motors Philippines Corporation followed in second with 17.65-percent. Ford Motor Company Philippines, Inc. remains in third with 8.44-percent. Isuzu Philippines, Corp. is in fourth position with 6.96-percent, with Honda Cars Philippines, Inc. remains in fifth with 6.78-percent.