Motor vehicle sales in October reached 16,800 units, the first time the industry breached the 16,000 monthly sales mark, setting another record sales for the industry and paving the way for the attainment of the 210,000 unit total sales target for the year.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), showed that the 16,800 unit sales in October was 11 percent higher than the 15,081 units sold in October last year and almost 14 percent higher than September sales of 14,764 units.
This brought total sales for the first 10 months of the year to 48,181 units, a remarkable 17 percent increase over the 126,663 units sold during the same period last year.
The CAMPI-TMA sales figure from January to October was also 5 percent higher than the total sales 141,616 unit in 2011 and already 95 percent of the total sales of 156,649 units last year.
CAMPI President Atty. Rommel Gutierrez said, “The market is responding very well to the new model introductions, both in the passenger car and commercial vehicle segments.”
Gutierrez noted that all segments have shown positive growth. Passenger car sales have grown by as much as 30 percent from 38,087 units in 2012 to 49,487 units for the first 10 months of 2013. Commercial vehicles sales have also increased by more than 11 percent from 88,576 units to 98,694 units for the current year. All four categories within the commercial vehicle segments have posted positive growth ranging from 2 to 37 percent.
With two months remaining, Gutierrez added that the industry is optimistic to attain its 210,000 units target as it approaches the peak buying season.
Toyota Motor Philippines remains as the market leader with 41.3 percent share, followed by Mitsubishi Motors Philippines Corp. with 24 percent and Honda Cars Philippines at third with 8 percent. Ford Motor Philippines is in fourth spot with 7.3 percent followed by Isuzu Philippines Corporation with 6.6 percent.
Meanwhile, on another development, Atty. Gutierrez announced that CAMPI will be extending financial assistance to the Yolanda victims. In addition, all members will also be granting discount programs for consumers whose vehicles have been damaged by the super typhoon.