Vehicle assemblers post record sales in February

MANILA, Philippines - Local vehicle assemblers achieved record sales in February amid strong demand in the passenger car (PC) and commercial vehicle (CV) categories.

A joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. released yesterday showed combined sales of the two groups reached 16,828 units sold in February, up 17 percent from the 14,439 units sold in the same month last year.

The higher sales for February were achieved as both PC and CV sales posted growth.

PC sales rose 22 percent to 5,620 units in February compared to the same month a year ago.

Sales of CVs also posted a 14 percent increase to 11,208 units in February from the same month in 2013.

“Vehicle sales remain to be positive.  With fewer calendar days for February, the industry is surprised to see sales reaching a level normally achieved during the peak month of December,” CAMPI president Rommel Gutierrez said.

For the January to February period, total sales reached 32,470 units, 21 percent higher than the 26,742 units sold in the comparable period last year.

PC sales for the two-month period climbed 24 percent to 10,918 units from the previous year.

As of end-February, CV sales grew by a fifth to 21,552 units compared to the same period in 2013.

By company, Toyota Motor Philippines Corp. remained the market leader with its 43 percent share.

This was followed by Mitsubishi Motors Philippines, Corp. which had a 24 percent share of the market, while Ford Motor Co. Philippines placed third with a seven percent share.

Gutierrez said the group could revise its forecast for total industry sales this year if the positive growth in sales seen in February would continue in the coming months.

The CAMPI expects the country’s total vehicle sales to reach 230,000 units this year citing expectations of sustained economic growth, increase in investments and consumer confidence, as well the rollout of new vehicle models and promotion packages.

Total vehicle sales hit an all-time high of 210,000 units in 2013.