Car makers post record sales in Oct

MANILA, Philippines - Local vehicle assemblers’ sales hit a new all-time high in October on the back of continued strong demand for passenger cars (PC) and commercial vehicles (CV).

According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), its combined sales with the Truck Manufacturers Association Inc. (TMA) reached a record-high of 22,278 units in October, 32.6 percent higher than the 16,800 units in the same month last year.

The group ascribed the record-high sales to new model introductions, aggressive promotional activities and increasing consumer demand.

Both PC and CV sales’ performance posted year-on-year growth in October.

PC sales rose by 46.5 percent to 8,975 units in October this year from 6,128 units in the same month a year ago.

Sales of CVs, meanwhile, climbed 24.7 percent to 13,303 units in October this year from the previous year’s 10,672 units.

“We are again pleased with the results for the month of October as this is yet another record-breaking monthly sales. Our strong efforts to meet the market’s demand and favorable responses to new models have essentially helped in boosting the automotive industry’s confidence of achieving higher sales for the remaining two months,” CAMPI president Rommel Gutierrez said.

For the January to October period, CAMPI and TMA’s combined sales went up 29.6 percent to 192,005 units this year from 148,181 units in the same period in 2013.

By company, Japanese carmaker Toyota Motor Philippines Corp. maintained its position as the best-selling automotive brand with its 45.2-percent share.

Another Japanese automotive firm Mitsubishi Motors Philippines Corp., got the second spot with its 21.7-percent share, followed by Ford Motor Co. Philippines Inc. with its 8.6 percent share.

Honda Cars Philippines Inc. with its 5.8-percent share, displaced Isuzu Philippines Corp. which accounted for 5.7 percent of the market.

Last month Gutierrez said the country’s total vehicle sales including those sold by non-CAMPI members may breach the group’s forecast of 250,000 units this year given the country’s strong economic growth which is helping drive consumer demand.

A total of 212,414 vehicles were sold in the country last year.