Vehicle sales jumped 23.8 percent in November to a record 40,799 units from 32,966 units a year ago, ahead of the expected implementation of higher excise tax on automobiles next year.
Data from the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association showed total vehicle sales rose 16.8 percent to 380,179 units in the first 11 months, from 325,468 units in the same period last ear.
The figures excluded those reported by other industry groups such as the Association of Vehicle Importers and Distributors Inc.
“November sales result is higher than the month of October because of increased sales of major assemblers and distributors. Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models from other brands,” said Campi president Rommel Gutierrez.
Both passenger cars and commercial vehicles showed exemplary performance in November. Passenger car sales slightly rose 4.8 percent to 11,901 from 11,686 units. The commercial vehicle segment exhibited a more aggressive growth of 16.4 percent to 28,898 units from 24,825 units sold a year earlier.
Campi and TMA attributed the good sales performance in November to continued promotions and stock availability.
Meanwhile, the Asian utility vehicle segment increased 5.9 percent to 6,832 units from 6,449 units last year. Light commercial vehicles sales went up 57.5 percent to 20,329 units from 12,905 units.
Trucks and buses got the highest increase of 94.8 percent on fleet deliveries.
Toyota Motors Philippines Corp. retained its market leadership with a share of 43.82 percent, followed by Mitsubishi Motors Philippines Corp. with 17.55 percent.
Ford landed on the third spot with 8.42 percent while Honda cornered 7.05 percent of the market. Completing the top 5 was Isuzu with 6.91 percent.
The industry expects total sales this year to hit 450,000 units, including sales by car importers and exclusive distributors.
“We are confident that the year-end industry target will be met as we continue with competitive promotional support and marketing activities,” Gutierrez said.