Car firms post record sales in Oct

MANILA, Philippines - Local vehicle assemblers achieved record sales in October on the back of positive market reception of passenger car (PC) and commercial vehicle (CV) launches.

Reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. (TMA) showed their combined sales reached 16,800 units in October, the first time monthly sales breached the 16,000 mark.

October sales were up 11.4 percent from the 15,081 units sold in the same month last year.

Compared to September’s sales of 14,764 units, October sales rose by 14 percent.

“The market is responding very well to the new model introductions, both in the PC and CV segments,” CAMPI president Rommel Gutierrez said.

PC sales in October reached 6,128 units, up 36.2 percent from the 4,498 units in the same month in the previous year.

The number of CVs sold in October grew slightly to reach 10,672 units from 10,583 units a year ago.

For the January to October period, sales have already reached 148,181 units, posting a 17 percent increase over the 126,663 units sold during the same period last year.

The CAMPI-TMA sales figure as of end-October is even five percent higher than the total sales of 141,616 units in 2011 and already 95 percent of the total sales of 156,649 units last year.

For the 10-month period, PC sales have grown 30 percent to 49,487 units from 38,087 units in the comparable period in 2012.

CV sales also climbed 11.4 percent to 98,694 units as of end-October from 88,576 units a year ago.

The CAMPI noted all four categories within the CV segments have posted positive growth ranging from two to 37 percent.

By company, Toyota Motor Philippines Corp. remains the market leader with its 41.3-percent share, followed by Mitsubishi Motors Philippines

 Corp. with its 23.8 percent share, while Honda Cars Philippines Inc. placed third with its 7.7 percent share.

Ford Motor Philippines got the fourth spot with its 7.3 percent share, followed by Isuzu Philippines Corp. with its 6.6 percent.

With two months remaining, Gutierrez said the industry is optimistic to attain its 210,000 units target this year as it approaches the peak buying season.

In another development, he said the CAMPI would extend financial assistance to those affected by typhoon Yolanda.

In addition, the group’s members would be grant discounts for consumers whose vehicles have been damaged by the super typhoon.