Auto sales down 8.1% in 1st 8 months

Sales of the local automotive industry went down by 8.1 percent to 57,093 units in the first eight months of the year from 62,120 units in the same period last year due to a number of reasons which include stocks unavailability, delay in production and shipment, low fleet sales and the continued uncertainty in the business climate.

A joint report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association of the Philippines (TMA) released yesterday showed that sales of commercial vehicles–light trucks, trucks and buses, Asian utility vehicles (AUVs) and light commercial vehicles – declined by 27 percent to 35,859 units during the eight-month period from 48,901 units in the same period last year.

Commercial vehicles account for the bulk of total industry sales.

Sales of passenger cars – which account for a fifth of the market – continued to post a robust growth, surging by almost 61 percent for the eight month period with sales reaching 21,234 units from 13,219 units in the same period last year.

Local assemblers expect industry sales to improve this month given aggressive promotions, introduction of new and minor change models as well as expected consummation of fleet orders and new fleet demand for the rest of the year.

The drop in commercial vehicle sales in the first few months of the year was reportedly due to the increase in excise tax.

The CAMPI and TMA, however, noted that demand for commercial vehicles in the past few months has been improving.

In terms of total industry sales, Toyota Motors Phils. Corp. maintained its grip on the number one slot, with 19,883 units sold during the eight-month period.

Honda Cars Philippines, Inc. gave up its number two position and had to settle for number three with total sales of 7,351 units during the eight-month period.

Mitsubishi Motors Phils. Corp. ranked second in total industry sales with 8,116 units sold.

Isuzu Phils. Corp. was top four followed by Ford Motors Co. Phils., Inc. at fifth place.

Nissan got the sixth and seventh position through its Universal Motors Corp. sales which handles commercial vehicle sales of Nissan.