The Chamber of the Automotive Manufacturers of the Philippines, Inc. (CAMPI) announced its January and February sales exceeded its target with an astounding year-on-year growth of 42 percent.
The 12-member association reported that combined figures of CAMPI-Trucks Manufacturers Association of the Philippines’ reached 26,588 units compared to sales of 18,718 for the same period last year.
Industry data also highlighted an outstanding 69.6 percent growth for the passenger car segment from 5,153 units in 2012 to 8,740 units in 2013. The commercial vehicle sector, which accounted for a 72.47 percent market share, likewise posted a 31.6 percent increase from 13,565 units in 2012 to 17,848 units in 2013.
CAMPI president Rommel Gutierrez attributed the robust sales on the increased purchasing power of consumers, and expressed optimism on sustained public spending.
“The steady growth in 2013 is the direct result of the (steady) inflow of private investments and the government’s (increased) spending on infrastructure,” Gutierrez said.
The booming real estate industry, numerous construction and infrastructure developments also boosted the sales of trucks and buses segment of categories IV and V where it recorded a year-to-date jump of 65.1 percent as compared to the same period in 2012.
Pilipinas Hino posted the highest sale of 109 units covering 39.7 of the market followed by Isuzu Philippines Corp. with 76 units equivalent to 27.24 percent of the market. MAN Automotive Concessionaire Corp. cornered 25.09 percent of the market with 70 units sold.
“The February sales performance alone was quite remarkable as total sales volume attained 14,332 units with a 35.3 percent increase from the January sales achievement,” Gutierrez enthused.
At the same time, Gutierrez added that the passenger cars segment increased by 50.1 percent with 4,574 units sold while commercial vehicle sector up by 29.4 percent with 9,758 units.
Toyota Motors Philippines Corporation led the pack in a year-to-date sales with a share of 39.9 percent, followed by Mitsubishi Motors Philippines with 24.1 percent, Honda Cars Philippines with 9.9 percent, Isuzu Philippines Corporation with 6.6 percent, and Ford Philippines with 6.3 percent.