CAMPI lowers 2011 sales target

MANILA, Philippines - The Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) lowered its sales target for 2011 at 145,000 units, which is 30,000 below the original target.

Homer Maranan, CAMPI Secretary General, confirmed that they already have a tentative forecast but cannot disclose it yet because it has not been confirmed by the CAMPI executive committee and board.

Data released by CAMPI yesterday stated that sales for the first 10 months declined by 2.4 percent from a year ago level due to the reduction in supply of some models as a result of flooding in Thailand.

On the upside, the total industry sales grew by 7.4 percent to 13,489 units in October from 12,555 a month ago due to continuous promotion, and introduction of new models.

Passenger car (PC) sales registered a 9.4 percent decrease compared to last month from 4,195 to 3,800 units due to supply constraint and delayed arrival of units.

Commercial vehicle sales increased by 15.9 percent compared to last month from 8,360 to 9,689 units due to promotion and fleet deliveries. Compared to the same period last year, the sales decreased by 2.1 percent.

Compared to September 2011, Asian Utility vehicle (AUV) sales increased by 25.6 percent due to promotion. However, it was still 2.9 percent short of the year to date sales performance for the same period last year.

Compared to last month sales of light commercial vehicle (LCV) sales increased by 11.5 percent due to completion of fleet deliveries.

For light trucks, year to date sales increased by 0.9 percent. Month on month sales decreased by 13.5 percent due to delayed arrival of units.

Month-on-month sales of trucks and buses increased by 24.8 percent due to fleet deliveries.

Meanwhile, Hyundai sales for the first 10 months of the year likewise went down by two percent when compared to the same period a year ago.

“Improved supply situation combined with our sustained efforts to raise our brand image and further boost excellence in the quality of our services and customer satisfaction delivered our expectations of   strong growth in October. This bodes well for our year-end performance which should benefit from a positive consumer outlook stemming from increased cash flow triggered by holiday bonuses and remittance flows,” Maria Fe P. Agudo president and CEO of Hyundai Asia Resources Inc. said.