Auto industry reports sluggish growth of 8.3% in 1st seven months

The automotive industry posted a sluggish growth of 8.3 percent in the first seven months of the year, with sales rising to 46,135 units from 42,604 in the same period last year, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) reported yesterday.

The slower sales growth was due mainly to a decline in sales of passenger cars which created a downward tug despite the double digit growth posted by commercial vehicles.

Sales of passenger cars fell by 2.4 percent to only 12,792 units during the seven-month period, from 13,111 units sold in the same period last year.

On the other hand, commercial vehicles posted a 13.1-percent sales growth to 33,343 units from 29,493 units a year ago.

Toyota Motor Philippines Corp. continued to comfortably hold the top spot in terms of overall industry sales. Toyota sold a total of 13,854 vehicles, both passenger and commercial vehicles.

Toyota’s bestsellers are Tamaraw Revo and Altis.

Mitsubishi Motors Philippines Corp. was second with sales of 9,232 units followed by Honda which sold 6,434 units.

Mitsubishi’s frontrunners are Adventure, Strada pick-ups and Lancer sedans.

Honda has been able to revive its sales with the introduction of its new CR-V model.

Izuzu Philippines Corp. ranked fourth with total sales of 6,127 units. Isuzu sells the popular Crosswind and Trooper vehicles.

Nissan Motor Philippines Inc. would have ranked fifth overall if its sales are combined with NMPI-Universal Motors Corp. Ford Motor Co. Phils. would then fall to sixth overall.