Positive Outlook for 2008 with January Vehicles Sales Increase
The auto industry started the Year of the Rat with a double digit growth of 17% for the 1st month compared to the same period last year. In January, the industry sold a total of 8,808 units, a good sign for the rest of the year. It is a good showing for the industry to jump start the year with a strong growth. Passenger car sales grew by 28.5% in January compared to the same period last year while Commercial Vehicles grew by 12% for the same period as well. CV sales however, continue to dominate overall market sales with almost a 70% market share. This trend is seen to continue for the year.Although sales from Dec '07 to Jan '08 registered a decline overall, this is expected due to cyclicality as December month is usually the month with the highest registered year-end sales.
PC sales increased by 28.5% for the month of January compared to the same period last year. The robust growth for the PC is seen to continue in the coming months. The new models introduced last year are seeing more positive results translated to sales in the first month of the year.
MTD January AUV posted a decrease of 35.8% mainly caused by sluggish sales due to seasonality.YTD sales increased by 5.5% compared to the same period last year due to the sustained sales of new models.
Sales in the LCV segment, comprised of pickups, vans, compact & full-size SUVs., showed an overall growth of 20% compared to the same period last year sustained by the sales of new models. Although as expected January sales are expected to be low due to seasonality, the 1st month sales of LCVs posted a strong 20% growth. An aggressive start for the year. Sales were supported by robust sales of vans and pickups.
Light Trucks sales decreased by 32.2% compared to the same period last year. For this month, this segment decreased by 53.9% compared to December due to completed delivery of fleet accounts.
Cat IV & V sales for January decreased by 29.2% compared to the month of December due to fleet account deliveries during the holidays. Compared to the same period last year (January 2007), sales also decreased minimally by 7.4%.