Automotive sales climbed 13.5 percent in July from a year ago, the first time the sector posted a double-digit growth after the government revamped taxes on vehicles in January 2018.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report their members sold 31,810 vehicles in July, up from 28,038 units they delivered in the same month in 2018.
“It is noteworthy that positive factors such as continued and strong sales campaigns and stable supply of units have outweighed the unfavorable effects of the off-peak season to the overall sales growth,” said Campi president Rommel Gutierrez.
“Historically, July is considered as one of the lean months of the industry. Nonetheless, we are optimistic that if we are able to sustain this growth trend, we will be able to exceed our sales performance last year,” he said.
Data showed that passenger car sales jumped 34.7 percent in July to 9,532 units from 6,975 units a year ago while demand for commercial vehicles picked up by 6.4 percent to 22,418 units from 21,063 units.
Light commercial vehicles increased 12.2 percent to 17,677 units while Asian utility vehicle sales dropped.
Month-month sales slightly went down by 0.4 percent from 31,950 vehicles sold in June 2019.
The two industry group said total vehicle sales in the first seven months rose 3.1 percent to 205,945 units from 199,628 units in the same period in 2018.
Passenger car sales declined 1.8 percent in the seven-month period to 61,816 units from 62,159 units a year earlier while commercial vehicle sales went up by 5.5 percent to 144,130 units from 136,669 units.
Light commercial vehicles posted the highest growth of 21.3 percent to 126,460 units while the rest of the commercial vehicles performed poorly. Sales of trucks and buses went down 38.1 percent.
Toyota Motor Philippines Corp. retained its position as the market leader with a 42.52-percent market share in July.
It was followed by Mitsubishi Motors Philippines Corp. with 17.47 percent; Nissan Philippines Inc. with 12 percent; Suzuki Philippines Inc. with 6.37 percent; and Ford Motor Company Phils. Inc. with 6.36 percent.