Philippine auto sales ended the third quarter of 2018 on a positive note showing signs of recovery in a challenging year which was opened with higher excise taxes on vehicles, fuel, and rising global oil prices.
The Philippine automotive industry sold a total of 101,226 units; based on the latest figures consolidated from distributor groups AVID (Association of Vehicle Importers and Distributors), CAMPI (Chamber of Automotive Manufacturers of the Philippines) and TMA (Truck Manufacturers Association). The figure represented a 6.58% gain from the previous quarter's 94,978 units; and a 15.26% decrease compared to the same period last year.
Commercial vehicles continued to take the larger chunk of sales for Q3 of 2018, covering 70.21% or 71,071 units. The Passenger car segment registered 30,155 units sold, taking the remaining 29.79% of the market.
Still dominating the market is Toyota which sold 36,266 units with a significantly reduced market share to 35.82%, Mitsubishi Motors remained 2nd with a slight improvement to 16.88% as it sold 17,082 units. Nissan ended Q3 with a phenomenal 51.7% growth selling 11,285 units stamping its position on 3rd spot for the quarter with a 11.15% market share. Hyundai remained 4th with 9,483 units and an 9.37% share. Ford remained 5th position with 5,608 units (5.54%); Honda sold 5,406 units for 5.34%; Suzuki improved its sales to 5,195 units (5.13%); and Isuzu rounded up the Top 8 with 4,203 (4.15%).
Both CAMPI and AVID expressed optimism with the trend but remained cautious as inflationary figures are still steadily high.
"We remain optimistic that this trend will be sustained before the year ends, as we expect a boost in sales from the upcoming 7thPhilippine International Motor Show this month and the Christmas season," said Atty. Rommel Gutierrez, CAMPI president.
"Amidst the headwinds, AVID retained its rosy outlook that its wave of new product launches and customer-focused service offerings will augur well for the automotive industry," said Ms. Ma. Fe Perez-Agudo, AVID president.