PH auto industry hits 2015 sales target

Automotive manufacturers in the Philippines have ended 2015 with a big statement after hitting their sales target of 288,609 units compared to 234,747 units sold in 2014 due to new car models that were introduced and flexible financing schemes. Based on the combined figures from the Chamber of Automotive Manufacturers of the Philippines, Inc. and Trucks Motors Association (CAMPI-TMA), sales for the month of December rose to 26,979 from 21,422 units tallied for the same month in 2014, reflecting a 25.1 percent increase. According to records, the number of passenger cars sold increased by 10,461 units, an increase of 33.3-percent from the 7,850 units sold last December 2014, while commercial vehicle sales reached 16,218 units compared to 13,470 sold in December last year. Overall, sales grew to 172,228 units (19.2-percent) from 144,460 units in 2014. CAMPI president Atty. Rommel Gutierrez of Toyota Motor Philippines expressed firm confidence in the industry having achieved its annual target. “The year 2015 is yet another milestone year. The industry was able to maintain the growth momentum of previous years. We again surpassed our annual target of 272,000 units for CAMPI”, said Gutierrez. Toyota Motor Philippines Corporation still holds the number one slot with a 43.32-percent share of the market followed by Mitsubishi Motors Philippines Corporation with 18.74 percent. Ford Philippines is third with 8.79-percent. Meanwhile, Isuzu Philippines Corporation is in fourth place with 7.82-percent while Honda Cars Philippines bagged fifth with a 6.69-percent share.