Car sales slump 16.4% in April

Automotive sales continued to drop in April as consumers’ wait-and-see attitude regarding the forthcoming elections dampened interest in the purchase of new vehicles.

Based on a report from the Chamber of Automotive Manufacturers Association of the Philippines Inc. (CAMPI) total industry sales tumbled by 16.4 percent to 5,120 units in April from 6,128 units in the same period last year.

For the first four months of the year, sales were also sluggish, declining by nearly 15 percent to 23,134 units from 27,109 a year ago.

Hardest hit was the passenger car segment whose sales plunged by 30.2 percent to 1,649 units in April from 2,363 units a year ago.

For the four-month period, sales of passenger cars were 28.8 percent lower at 7,067 units from 9,926 units last year.

Sales of commercial vehicles also slipped by 7.8 percent to 3,471 units in April this year from 3,765 units a year ago.

From January to April this year, sales were also on the downtrend, declining by 6.5 percent to 16,067 units from 17,184 units in the same period last year.

Toyota Motor Philippines Inc., despite its labor problem, continued to maintain its number one spot in terms of total industry sales.

Honda Cars Philippines Inc. managed to maintain its lead in the passenger car segment.

Nissan retained its third ranking in terms of passenger car sales while Mitsubishi was at fourth.