RP vehicle sales up 18-percent in April

With strong economic growth and consumer spending, the local automotive industry continues to remain upbeat with an impressive 18-percent growth in April to 21,259 units compared to 18,015 units last year.

In a report based from the Chamber of Automobile Manufacturers of the Philippines, Inc and the Truck Manufacturers Association, last month’s sale contributed to the 21-percent growth of the first five months total of 84,141 units versus the 69,737 units for the same period last year.

Passenger cars (PC) led the number of sales with more than 24-percent increase from 6,697 in April 2014 to 8,331 units last month, while commercial vehicles grew by a modest 14-percent from 11,318 units to 12,928 units for the same comparison period.

In terms of year to date sales, there is a noticeable increase in the share of the passenger car segment.  In 2014, the total of passenger cars (PC) that was sold for the first five months reached to 24,824 units or almost 36-percent of the total. For the current year, the total is 33,382 units or almost 40-percent of the entire volume sold since January.

According to Atty. Rommel Gutierrez, Campi President, “This continuing increase in passenger car sales is an indication that the country has entered the motorization stage.  This is also consistent with economists’ projection that consumer spending growth will remain strong as per capita income hopefully reaches $3,000 in 2015.”

Despite the year-on-year growth, April sales actually declined by 10-percent across all product segments compared to the sale of 23,557 units in March.

Gutierrez explained, “This slight dip is due to the shorter number of working days in April as well as general seasonality.  The industry remains confident that sales will pick up in the coming months.”

Overall, Toyota Motors Philippines Corporation remained the top performer with 44.3-percent market share, followed by Mitsubishi Motors Philippines with 19.2-percent and Ford Group Philippines at third with 8.2-percent share. Meanwhile, Japanese carmaker Isuzu registered 7.6-percent at fourth and Honda Cars Philippines at fifth spot with 6.3-percent market share.

*Photo courtesy of CAMPI