MANILA, Philippines - Car sales of member firms of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) rose 30.7 percent in May with sales of 14, 265 units from 10, 913 in the same month last year as limitations in the supply chain brought by flooding in Thailand ease.
Sales in May rose 16 percent from April sales of 12, 304 units.
The strong showing was largely due to the improved supply condition and sustained consumer confidence that was reflected by the 6.4-percent growth in the Philippines’ economy in quarter 1, CAMPI president and ToYota Motor Philippines (TMP) vice president for corporate affairs Rommel Gutierrez said in a statement.
For the month of May, TMP is still leading in sales with a 39.7-percent market share followed by Mitsubishi with a 23.9-percent share and Isuzu with 8.1 percent.
New model introductions coupled with the recovery of supply both for the passenger car and (PC) and commercial vehicle (CV) segments resulted to increased sales in both segments.
Gutierrez said that during the first four months of the year, the local automotive industry posted minimal sales growth because of limitations in supply caused by the effects of the flooding in Thailand last year.
However, because of exciting new model introductions, improved supply conditions and the country’s thriving economy, all brands still maintained a good showing during this period,” he said.
We are very optimistic that the strong performance in May is a clear sign that the industry is on the road to recovery and can achieve record breaking sales for 2012, he added.
During the first four months of the year, many car manufacturers in the country imported completely built-up units outside manufacturing facilities in Thailand (CBU) to maintain their presence in the market. New models were introduced to the market in limited numbers to spice up their current vehicle line up.
Now that the supply chain in Thailand in improving, car companies like Honda Philippines with its popular Jazz model are sourcing directly from Thailand instead of japan.
Several industry players like Toyota Philippines and Honda have expressed optimism that the Philippines will catch the so-called third wave of motorization that is expected to hit the ASEAN region by next year.
This will be possible if the surge in demand will be met by aggressive reforms in infrastructure and policies for the local auto industry.