Is CAMPI and TMA right on their 2015 vehicle sales prediction

Is CAMPI and TMA right on their 2015 vehicle sales prediction

The latest year-to-date sales data report are now in from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). They are confident that by the end of the year, the predicted 300,000 vehicle sales will be met.

Per the report by CAMPI and TMA, the sales performance continues to grow for the year 2015. For October, 28,667 units were sold which is 29% higher compared to the numbers of the same month of last year. In addition to that, year-to-date sales figures reached 234,951 units; that's 22.4% higher than the 192,005 units of the same period in 2014.

With the forecast sales figure mentioned, CAMPI and TMA are quite confident that the industry will further sell more than 65,000 units before the year ends.

These increase in sales numbers are both for passenger and commercial vehicles. The former grew by 25.2% with 11,235 units versus 8,975 units in October of last year.

On the other hand, the sales figures of commercial vehicles improved by 31%.

Take note that 59% of the market share is from the sales of commercial vehicles.

Atty. Rommel Gutierrez, CAMPI President, explained that this is a reflection of the economic progress of our country which makes it easier for people to buy cars. He also added,

With attractive financing options coupled with new model introductions to match customer needs, cars are definitely appealing to new buyers. We are confident to meet our forecast for 2015.”

Toyota Motor Philippines Corporation excelled the October 2015 sales with a market share of 43.28%. Mitsubishi Motors Philippines Corporation (MMPC) comes in 2nd with 19.07%, while Ford Motor Company Philippines, Inc. (FMCPI) is at 3rd place with 8.33% share. Meanwhile, Isuzu Philippines Corporation (IPC) sits at 4th with 7.8% then Honda Cars Philippines, Inc. (HCPI) is at 5th with 6.83% market share.

These rankings are only inclusive of the sales data from the members of CAMPI and TMA. Other car manufacturers under the Association of Vehicle Importers and Distributors (AVID) such as Hyundai, Subaru, Chevrolet, Volvo, etc. are not included in this report.