Car sales jump 29% in Jan-Feb

The automotive industry posted its biggest growth in January-February since the Asian crisis, expanding by 28.9 percent with sales of 13,912 units of cars, light commercial vehicles and Asian utility vehicles, trucks and buses compared to only 10,792 units sold over the same period in 1999.

Data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) show that the automotive industry posted a record growth in February alone, expanding by 25.9 percent from 5,533 units sold last year to 6,964 units.

Passenger car sales from January to February likewise went up by 19 percent from 4,027 units sold last year to 4,794 units sold this year on the back of a 19-percent increase in car sales in February, from 2,040 units to 2,428 units.

Commercial vehicle sales went up by 34.8 percent in January to February from 6,765 units sold last year to 9,118 units sold over the same period this year. February commercial vehicle sales went up by 29.5 percent from 3,493 units to 4,536 units.

CAMPI data show that Toyota Motor Phils led total industry sales, accounting for 4,197 units sold from year to date; followed by Mitsubishi Motor Phils. which sold 2,853 units. In third place was Honda Cars Phils. which sold 2,459 units.

In the passenger cars segment, Honda held on to its top position, selling 1,881 units in January and February, followed by Toyota with 1,101 units sold. In third palce was Nissan with 569 units sold while Mitsubishi was in fourth palce with 346 units.

CAMPI said the sales data show strong indications that the industry is ebginning to recover in earnest after receiving a beating in the wake of the Asian currency crisis.

Commercial vehicles, for instance, posted the biggest growth of 34.8 percent on a year-to-date basis and a 29.9 percent growth in February alone.

This year, CAMPI expects car sales to total 29,600 units as signs of a recovery became imminent during the latter part of last year.