Vehicle sales up 27 percent in January
MANILA, Philippines - Sales of local vehicle assemblers in January reached highest in 10 years supported by the strong demand seen in both the passenger car (PC) and commercial vehicle (CV) segments.
In a statement yesterday, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said the group sold 15,642 units in January, up 27 percent from its sales of 12,303 units in the same month a year ago.
“January has always been a slow month following a hectic sales period in December. However, new product launches in the last quarter of 2013 and extended promo packages continued to attract buyers well into the new year,” CAMPI president Rommel Gutierrez said.
PC sales for the month grew 26 percent to 5,298 units from 4,190 units in January 2013.
Sales of CVs also rose 27 percent to 10,335 units in January from 8,113 units in the comparable month last year.
By company, Toyota Motor Philippines Corp. had the highest sales, accounting for 45 percent of the group’s total sales having sold 7,062 units in January.
Mitsubishi Motors Philippines Corp. came in second with its sales of 3,411 units or 22 percent market share.
This was followed by Ford Motor Company Philippines Inc. which sold 1,076 units or seven percent market share.
Given the good start, Gutierrez said the group expects the country to set a new record in total vehicle sales this year.
“If the January sales performance is an indication of things to come, we can expect another record setting year as the industry gears up for more new product launches and bigger activities, such as the much awaited 5th Philippine International Motor Show in September. The Year of the Horse shows a powerful animal in constant forward motion.
That will be the same direction that the automotive industry will take this year,” he said.
Last year, the CAMPI sold a total of 181,283 units.
Adding the sales of non-members of the CAMPI, the country’s total vehicle sales hit an all-time high of 210,000 in 2013.
The CAMPI expects the country’s total vehicle sales to increase to 230,000 units this year on expectations of continued improvement in the economy which would encourage more investments, consumer confidence and introduction of new vehicle models as well as promotion packages.