Auto Industry 2019 Sales Shows Steady Climb
Sales for the Philippine automotive industry showed a steady climb through 2019, after showing a meager growth for the full 12 months of the year.
As reflected in the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), vehicle sales went up by 3.51 percent, selling 369,941 in 2019 versus the 357,410 units back in 2018.
The vehicle sales reflected a slowdown as the car manufacturers, back in 2017 and the previous years, enjoy a minimum of 10-12 percent sales growth.
Passenger cars, which held 30.50 percent market share, sold 109,197 vehicles last year, reflecting an increase of 0.2 percent compared to 2018's 109,020.
Commercial vehicles, on the other hand, which is 69.50 percent of the total sales, has rolled out 260,744 units. This showed a 5 percent rise from the 248,390 the previous year.
December 2019 sales reached 33,715 vehicles for the month of December 2019. This represents a growth of 5.5 percent from the 31,945 units sold in the same period in 2018.
However, on a month over month comparison, it is down by 2.2 percent, with November 2019 selling 34,465 vehicles.
CAMPI President Atty. Rommel Gutierrez expressed optimism over the positive output of sales.
He said that ending the year with positive figures is a welcome relief for the industry coming from a double-digit decline the previous year.
“The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully, the industry’s collective efforts, supported by sustained economic growth, have paid off. We will not rest on our laurels as we aim for further growth in the coming months, and hopefully for the whole of 2020.”
Meanwhile, Gutierrez noted that the automotive industry remains optimistic in reaching its overall sales target of 410,000 units for 2019.