Truck sales boost industry growth
The Philippine automotive industry achieved its highest monthly sales last June hitting the 37,631 mark. The Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association chalked up an impressive 14.1 percent increase compared to the same month last year with 32,993 units sold. Sales last June 2017 enabled auto sales to reach 196,164 units for the first semester of 2017.
Both Passenger Car (“PC”) and Commercial Vehicles (“CV”) segments rose compared to June 2017 sales. The PC segment sales achieved 13,677 units, a 14.4 percent growth over June last year with 11,951 units sold. As of June 2017, PC segment is now 67,180 units or 34.25 percent of year-to-date sales.
Collectively, the CV Segment also accomplished 23,954 units with 13.8 percent increase over the same period last year with 21,042 units sold. Most categories within the segments had their shares of growth. Categories 1 (AUVs) and 2 (SUVs) led the rise in the segment’s sales with 7,414 and 15,278 units sold, respectively. Only Category 5 (Heavy Duty Trucks and Buses) fell with 157 units sold, 18.7 percent decrease from 193 units sold in June 2017. Year-to-date CV sales reached 128,984 units or 65.75 percent of the total sales.
“The overall sales last June is relatively higher compared to that of May’s due to the well-maintained inventory levels helping the prompt delivery of vehicles amongst the major players. All these factors led to our improved sales in June 2017. In additional to a good stock level, manufacturers maximized “dealer push” that brought higher sales specifically to their key models,” CAMPI President Rommel Gutierrez said.
The first semester of 2017 is led by Toyota Motor Philippines Corporation with 42.73% market share. Mitsubishi Motors Philippines Corporation follows in second with 19.11%. Isuzu Philippines Corporation comes in third with 11.03% share. Ford Motor Company Philippines is fourth with 8.52%; while Nissan Philippines, Inc. is at fifth with 5.21% market share.