Auto industry posts 27.8% sales growth in January » Manila Bulletin …

By Bernie Cahiles-Magkilat

 

The domestic automotive industry started 2017 on a high note with a brisk 27.8 percent sales growth, the highest January sales ever.

In a joint report, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said sales in January reached 30,425 units or 27.8 percent higher than the 23,808 units of the same month last year.

“This is the highest January sales record ever allowing 2017 to have a good opening with all categories performing considerably well,” said CAMPI President Rommel Gutierrez.

The passenger car segment increased by 27.2 percent with 10,984 units sold from 8,632 units sold in January, 2016.

As a whole, the commercial vehicles (CV) grew by 28.1 percent with 19,441 units sold from 15,176 units sold in the same month last year.

Within CV segment, all categories registered strong  growth. The Asian Utility Vehicles (Category 1) rose 26.1 percent with 6,026 units sold from 4,780 units sold in January last year while the Light Commercial Vehicles  (Category 2) grew 27.5 percent with 12,340 units sold from 9,678 units sold  in January, 2016. Light Trucks (Category 3) improved 60.7 percent with 630 units sold from 392 units sold in the beginning of 2016.

Category 4 or the medium-size trucks and buses surged 74.4 percent with 272 units sold from 156 units in January last year, while Category 5 or the big trucks and buses gained 1.8 percent with 173 units sold from 170 units sold in January 2016.

“Although we expected lower sales due to seasonality, reaching 30,000-unit level in January is a good start for the auto industry.  We welcome appropriate measures that will not hamper the growth of the auto industry as it continues to positively contribute to the economy.” explained Gutierrez.

In terms of individual performance, Toyota Motor Philippines Corporation led with 47.8 percent market share. Mitsubishi Motor Philippines Corporation finished second with 16.24 percent share. Ford Motor Philippines, Inc. was third with 8.28 percent market share. On fourth spot with a market share of 7.18 percent was Honda Cars Philippines, Inc. A new entry in the top 5 was Nissan Philippines, Inc. with 5.45 percent market share.

Tags: , , , , , ,

Article source

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>