PH auto sales increase by 31% in May 2016 according to CAMPI

PH auto sales increase by 31% in May 2016 according to CAMPI

According to the combined report of the Chamber of Automotive Manufactures, Inc. (CAMPI) and Truck Manufacturers Association (TMA), the local auto industry closed May 2016 with a total of 30,317 units sold - a stronger performance compared to May 2015’s sales of 27,697 units.

The report stated that sales for both the Passenger Car (PC) and the Commercial Vehicle (CV) segments went up last month. On one hand, the PC segment registered a total of 10,893 units, a 14% increase over last year’s 9,556 units. The CV segment, on the other hand, recorded a total sales figure of 19,424 units which equates to 43% increase over last year’s 13,583 units.

Of note, Toyota Motor Philippines Corporation is still the best-performing automotive manufacturer in the country with a market share of 42.95%. Next are Mitsubishi Motor Philippines Corporation and Ford Motor Company Philippines with 18.29% and 10.38% market shares, respectively. Taking the 4th spot is Isuzu Philippines Corporation with a market share of 8.04%, while Honda Cars Philippines, Inc. lands 5th with 6.69% of market share.

“With another impressive sales figure, we can see that there has been continuous demand for mobility. We expect new models to reach more markets with positive response as we also look at July figures to have a stable to higher sales performance,” said CAMPI President Atty. Rommel Gutierrez.

By comparison, 2015’s year-to-date sales reached over 107,280 units, but that was beaten by this year’s January-to-May sales record of 134,488 units.