Philippine Auto Industry Kicks Off 2017 with 27.8% January Growth
The Philippine Automotive Industry is off to a good start this year as it posted an impressive 27.8% growth in January compared to last year’s sales numbers. The numbers appear in the report jointly issued by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). According to the report, the local auto industry overall managed to sell 30,425 this January over last year’s 23,808 total for the same month.
Based on CAMPI’s records, 30,425 units sold is the highest January sales record ever. CAMPI adds that all categories performed well, with both Passenger Car (PC) and Commercial Vehicle (CV) segments experiencing similar percentage gains. The PC segment closed with a 27.2% increase from 8,632 to 10,984 units, while CV experienced a 28.1% gain, from 15,176 to 19,441.
Growth in all CV sub-segments
All sub-segments in the CV category saw their percentages increase.
- Asian Utility Vehicles (AUV, Category 1) grew 26.1% from 4,780 units sold in January last year to 6,026 units sold this month
- The Light Commercial Vehicles (LCV, Category 2) rose 27.5% from 9,678 units sold in January 2016 to 12,340 units sold last month
- Light Trucks (LT, Category 3) surged 60.7% from 392 units sold in the beginning of 2016 to 630 units sold on the same period this year.
- Category 4 Trucks and Buses improved 74.4% from 156 units in January last year to 272 units sold this year
- Category 5 Trucks and Buses earned 1.8% growth from 170 units sold in January 2016 to 173 units sold this year.
Unexpected high percentages
“Although we expected lower sales due to seasonality, reaching the 30,000-unit level in January is a good start for the auto industry,” said CAMPI President Atty. Rommel Gutierrez. “We welcome appropriate measures that will not hamper the growth of the auto industry as it continues to positively contribute to the economy.”
In terms of individual performance, the top five performing car manufacturers for January 2017 are as follows:
- Toyota Motor Philippines Corporation (47.8% market share with 14,542 units sold)
- Mitsubishi Motor Philippines Corporation (16.24% market share with 4,942 units sold)
- Ford Motor Philippines, Inc. (8.28% market share with 2,519 units sold)
- Honda Cars Philippines, Inc. (7.18% market share with 2,185 units sold)
- Nissan Philippines, Inc. (5.45% market share with 1,659 units sold)