In a joint report issued by Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), total industry sales reached 8,474 units in February as both passenger cars and commercial vehicle segments contributed to post strong growth.
"Stronger sales can also be attributed to tighter controls on prohibited used imports by the government where consumers are warned of the dangers/ramifications of buying these vehicles," CAMPI president Elizabeth Lee said in a statement.
According to CAMPI and TMA, they are expecting a strong 2007 given new model introductions.
"Sales are seen to continue a stronger growth trend in the coming months," Lee noted. She said robust fundamentals like the stable peso and peaceful elections will help keep buyer confidence strong.
As in the previous months, there were more commercial vehicles sold than passenger cars. A total of 2,819 passenger cars were sold for the month, up 21.4 percent from the January figure of 2,322.
CAMPI said the increase was due to new models, dealer incentives and existing promos.
CAMPI and TMA predicted passenger car sales will increase in the coming months.
Toyota beat Honda in passenger car sales by selling two more cars than the latter. Toyota sold 980 cars getting 34.76 percent of the market while Honda sold 978, representing 34.69 percent. Ford Motor Co. Philippines trailed at 9.33 percent or 263 car sales. Number four was Hyundai Asia Resources Inc. at 117 cars sold or 4.15 percent while General Motors Automobiles Phils. was fifth at 3.9 percent or 110 cars.
Meanwhile, commercial vehicle sales for February was 5,655 up 8.8 percent from January’s 5,199. Strong sales of Asian Utility Vehicle (AUV) and Light Commercial Vehicle (LCV) segment that include vans, pickups, compact SUVs contributed to the positive performance. With more new models in the offing this year, sales for the commercial vehicle category is expected to remain strong.
Toyota was the leader in commercial vehicle sales getting 41.15 percent of the market share as it sold 2,327 vehicles. Second was Mitsubishi at 16.53 percent translating to 953 units sold. Third was Isuzu Philippines Corp getting 16.22 percent at 917 units followed by Ford at 6.93 percent. Rounding up the top five was Hyundai at 6.91 percent.