Vehicle sales down 26% in Jan

Vehicle sales dropped 26 percent to 7,521 units in January from 10,099 units in December last year, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said in a joint report yesterday. CAMPI and TMA said the lower volume in January was expected given the high December figures.

"Due to the cyclicality inherent in auto sales, lower sales in January relative to other months is expected most especially coming off of the seasonaly high month of December," the report stated.

Year-on-year comparison likewise showed a three-percent decline, with January 2006 sales recorded at 7,742 units.

Despite the slow start, TMA president Beth Lee said they are confident of hitting their target of 103,000 vehicles this year. She said the strengthening of the peso against the dollar and the yen will provide a big boost to the industry.

Also, Lee said the strict implementation of the ban on used car imports will have a positive effect on sales. "The upcoming elections may also contribute to a certain extent to sales," she added.

Toyota Motor Philippines Corp. captured the biggest slice of the market with sales of 3,013 vehicles for a share of 40.06 percent. In second place was Mitsubishi Motors Philippines Corp. with 13.92 percent market share or 1,047 units.

Honda Cars Philippines Inc. ranked third at 11.91 percent or 896 units closely followed by Ford Motor Co. Philippines including Mazda at 8.63 percent or 649 units.

For the month, a big chunk of the market consisted of commercial vehicles representing 69 percent of the industry or 5,199 units. The remaining 31 percent are passenger cars with 2,322 cars sold.

More commercial vehicles were sold in January compared to the same period last year at 4,629. The two associations credited the 12.3-percent increase to the release of new models. CAMPI and TMA expect increased sales to continue growing in the next two months as more new models are expected to be introduced.

Toyota likewise dominated the commercial vehicles market with 42.3-percent share or 2,199 units sold, followed by Mitsubishi Motors Philippines Corp. at 18.98 percent. Isuzu Philippines Corp. and Ford Motor Co. Philippines followed at 10.06 percent and 7.92 percent, respectively.

Meanwhile, passenger car sales declined 25 percent versus the same period the previous year as only 2,322 units were sold. However, CAMPI is confident that the sales will pick up in the next couple of months.

Toyota once again dominated the market at 35.06 percent or 814 units sold, followed closely by Honda with 30.66 percent 712 units. Ford Motors was third at 10.21 percent or 237 units.