The local automotive industry continues to grow as the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported a 16.2% increase in sales for the month of September 2016.
A total of 31,451 units were sold in September as compared to the 27,069 vehicles sold in the same month last year. It’s worth noting, though, that there was a decline when you compare the figures from August 2016, which was at 32,472 units sold.
The decrease in monthly performance can be attributed to the slight drop in sales of the commercial vehicle (CV) segment; 164,335 units to be exact, which makes up the 63% of the year-to-date market share. It recorded 19,341 units sold for September 2016, a 9.4% decrement from August 2016.
Among the 5 CV subcategories, the Category V (Heavy Duty Trucks) also got a 2.3% decline in sales performance in September of this year as compared to the same month last year. Nevertheless, Category I (Asian Utility Vehicles) went up by 34.9%, while Category III (Light Commercial Vehicles) increased by 74.1% - both compared to the same period last year.
On the other hand, the passenger car (PC) segment recorded a total of 12,110 units sold this month, a 13.1% increment from September 2015 and an 8.7% increase versus August 2016. This boosts the PC segment year-to-date market share to 37% or a total of 97,036 units sold.
In total, the year-to-date vehicle sales reached 261,370 units, where 43.78% market share goes to Toyota Motor Philippines Corporation. Moreover, Mitsubishi Motors Philippines Corporation takes 17.34% of the pie, while Ford Motor Company Philippines, Inc. gets 9.56%. Isuzu Philippines Corporation sold 7.47%, followed by Honda Cars Philippines, Inc. with 6.51% of the total market share.