Car sales post 11% growth
MANILA, Philippines - Car manufacturers reported an 11 percent rise in sales in 2012 from the previous year, driven by consumers’ strong demand for commercial vehicles and passenger cars.
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) said yesterday it sold 156,649 units last year compared to 2011’s 141,170 units.
The growth was supported by an increase in both commercial vehicles and passenger cars.
Commercial vehicles, which made up the bulk or 69.15 percent of total sales, went up 12.2 percent to reach 108,324 units from 2011.
Passenger car sales which accounted for 30.85 percent of total sales, grew by 8.4 percent to 48,328 units from the previous year.
The CAMPI said the higher sales were seen amid an increase in consumer spending given robust economic performance, strong remittance flows from overseas Filipino workers and available car financing schemes.
“Growth could have been much better if not for the supply constraints experienced by most brands during the first quarter of 2012 due to the short supply of vehicles coming from Thailand as a result of flooding during the last part of 2011,” the CAMPI said.
By company, Toyota Motor Philippines Corp. was the top automobile manufacturer with its 42 percent share.
Mitsubishi Motors Philippines Corp. got the second biggest share of the market at 22 percent.
Honda Cars Philippines Inc. placed third with its eight percent share.
For the month of December alone, CAMPI saw sales jump 48 percent to 15,369 units from 10,358 units in the same month in 2011.
The group sold 9,979 units of commercial vehicles in December, increasing 37 percent from 2011.
Passenger car sales in December reached 5,390 units, 76 percent higher than in the previous year.
Earlier, CAMPI president Rommel Gutierrez said they expect total vehicle sales of the industry to reach at least 180,000 units for 2012 given the country’s positive economic performance.
The Association of Vehicle Importers and Distributors, Inc. has yet to report its sales in 2012.
For this year, Gutierrez said earlier that total industry sales could reach 200,000 units.