The Philippine automotive industry is on a roll as the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) report that local vehicle sales were up by 30.3% in April 2016.
According to the report, the industry achieved a year-on-year 30.3% increase with 27,697 units sold last month. CAMPI and TMA added that the number of units sold last month contributed to about 24% growth of the year-to-date total of 104, 176 units as compared to the 84,141 units sold during the same period last year.
The Passenger Cars category increased by 19% with 9,920 units sold last month as compared to 8,331 units in the previous year. On the other hand, the Commercial Vehicles category grew by nearly 38% with 17,777 units sold as opposed to 12,928 units for the same period last year.
“April sales were beyond expectation compared to sales trend based on seasonality. Given that we offer attractive promotions and the arrival of new models, we project sustained growth the whole second quarter,” said CAMPI President Atty. Rommel Gutierrez.
As of this writing, Toyota Motor Philippines Corporation remains on top in terms of local unit sales with 41.52% market share. Toyota is followed by Mitsubishi Motors Philippines Corporation with 18.63% and Ford Motor Company Philippines, Inc. with 10.59%. Isuzu Philippines Corporation ranked fourth with 8.45% while Honda Cars Philippines, Inc. occupied the fifth spot with 7.15% market share.