The effect of the TRAIN law continues to take its toll on auto sales as the latest report from Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), showed a 9.3% decline in April 2018 with 25,583 units sold, compared to the previous month's 28,216 unit sales total.
While sales may be generally down for all segments, more resilient brands have seen an uptrend in their sales, but the industry reported an overall decline of 11.9% compared to the previous year's 29,038 unit total.
Taking the bigger hit was the Commercial Vehicle segment with a 30% drop as the Passenger Car segment reflected a 9.4% decline.
Passenger car (PC) sales totaled 9,910 units, covering 38.74% of the market. Commercial vehicles (CV) still covered most of the market at 15,673 units or 61.26% of the market.
Sales are still expected to recover in the coming months as major brands are expected to introduce new products, while supply will continue to arrive for sought after models. CAMPI still maintains that it is expecting flat growth for the year.
Light Commercial Vehicles (LCV) led the CV subsegments, comprising 70.47% of CV sales with 11,045 units sold; 9.3% less than last month's 12,171 total. The AUV/MPV segment on the other hand sold 3,489 units, down 11.8% from 3,899. Truck and bus sales were mostly green although light truck sales slowed down by 9.3%, selling a total of 580 units compared to previous month's 628 unit total. On the other hand, Category 4 Heavy Duty Truck and Bus sales totaled 436 units (+3.8%) compared to last month's 372 units. Category 5 Heavy Duty Truck and Bus sold a flat 173 units, (+/-0%) compared to last month's 173 units.
Sales performance were mostly negative for most brands. The top 3 advancers*: Toyota (TMP) sales went up by 12.8%; Suzuki (SPI) increased sales by 10.7%; Foton (FMP) increased by 10%. Top three decliners* were Mercedes-Benz (ANG) with a huge 75.6% drop; Mitsubishi (MMPC) with a 62.5% drop; and Honda (HCPI) with a 5.1% downtrend.
*only brands selling more than 100 units per month were included.
The top five performing manufacturers for the month of April are:
1. Toyota – 12,867 units (50.3% market share)
2. Mitsubishi – 2,525 units (9.87% market share)
3. Nissan – 2,073 units (8.1% market share)
4. Honda – 1,935 units (7.56% market share)
5. Ford – 1,836 units (7.18% market share)
Toyota Motor Philippines Corporation continues its commanding lead of the market with 42.38-percent. Mitsubishi Motors Philippines Corporation follows in second with 19.78-percent. Ford Motor Company Philippines, Inc. hangs on to third with 7.42-percent. Honda Cars Philippines, Inc. is in fourth position with 7.27-percent, and Nissan Philippines, Inc. continues its surge in fifth with 7.04-percent.