CAMPI/TMA: Auto Sales Slump in November
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) published a joint report stating that the Philippine auto industry experienced a 5.7-percent month-on-month negative growth for the month of November, selling a mere 31,258 units that month compared to October’s 33,150 units.
Still, CAMPI President Rommel Gutierrez expressed optimism with the result.
“We remain confident that the industry will continue to recover as the year ends,” said Gutierrez.
Both year-over-year (YOY) and year-to-date (YTD) sales were down by 23.4 percent and 14.4 percent, respectively. November 2017 sales were at 40,799, which is 9,541 units more than November 2018’s numbers. Likewise, sales for the first 11 months of 2018 is only at 325,465 compared to 380,179 units during the same period last year, for a difference of a whopping 54,714 units.
Category-wise, the Passenger Car segment sales went down by 2.6 percent with 9,197 units in November from 9,444 units the preceding month. The Commercial Vehicle segment also declined by 6.9 percent with 22,061 units from 23,706 units previously. The Asian Utility Vehicle (Category I) succumbed to a negative growth of 7.8 percent in November, selling 3,142 units from 3,409 units a month ago.
The Light Commercial Vehicle (Category II) was also down by 6.9 percent with 17,594 units from 18,896 units. On the contrary, Light Trucks (Category III) posted an increase of 4.4 percent with 753 units from 721 units. Trucks and Buses (Category IV) recorded the biggest drop among all segments with 22.2 percent with 425 units from 546 units while Trucks and Buses (Category V) earned 9.7 percent growth with 147 units from 134 units.