The local automotive industry has reached another monumental feat as it continues to break first quarter records with sales reaching 62,882 units, breaking the 60,000 unit mark for the first time. These record sales represent a 22-percent increase over the 2014 first quarter record of 51,722 units.
Based on the report from the Chamber of Automobile Manufacturers of the Philippines, Inc and the Truck Manufacturers Association, the 14-percent sales increase in March, equivalent to 23,557 units sold, was attributed to the strong quarter performance of the industry.
In the passenger car segment, the sales grew by 38-percent to 25,051 units sold, compared to last year's 18,127 units.
According to Atty. Rommel Gutierrez, CAMPI President, “As projected during the industry planning session conducted for 2015, demand from the BPO market has boosted the sales of the sub-compact segment. Industry continues to respond with the right product mix and very attractive financing package to meet this demand.”
Commercial vehicles went up by 60-percent to 37,831 units compared to 33,595 units sold in the previous year. Within the commercial vehicle category, trucks and buses posted a 69-percent growth with 706 units sold compared to last year’s year-to-date sales of 419 units.
Gutierrez explained, “This is mainly due to the increasing patronage from the public utility sector complying with the government’s re-fleeting program.”
The Luxury category of both segments tallied year-to-date sales of 510 units. BMW, Mercedes Benz, and Lexus, registered impressive growth from the same quarter last year, with Lexus posting the highest growth rate of 73-percent.
With this performance, the industry is confident that it will reach its 310,000 sales volume target for the entire year as sales are expected to peak in the coming months.
Taking the number one spot is Toyota Motors Philippines Corporation with a 44.2 percent market share, followed by Mitsubishi Motors Philippines with 18.8 percent. Ford Group Philippines is third with a 8.4 percent share, while Isuzu Philippines Corporation is at fourth with 7.9 percent. And lastly, Honda Cars Philippines lands fifth place with 6.3 percent.
*Primary photo courtesy of CAMPI
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