Car sales jumped 21.7 percent year-on-year in February, sustaining the double-digit growth in January and putting the automotive industry on track to setting record sales of 350,000 in 2016.
The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report their members sold 25,150 vehicles in February, up from 20,663 units delivered a year ago. The figures exclude the sales of industry group Association of Vehicle Importers and Distributors, which has a separate report.
Campi said the February sales were also 5.6 percent higher than the January volume of 23,808 units.
“So far, it has been a good start for the auto industry. Demand for mobility continues and industry players are ready to respond to the needs and demands of consumers” said Campi president Rommel Gutierrez.
Sales of all segments improved on a year-on-year basis, with passenger cars or sedans increasing 20.5 percent to 9,819 units in February from 8,149 units in February 2015. Commercial vehicles collectively increased by 22.5 percent to 15,331 units from 12,514 units in the same period last year.
Heavy-duty trucks and buses or category 5 grew 331.3 percent to 126 units from 96 units in 2015 while light trucks or category 3 showed an increase of 3.9 percent to 160 units from 154 units in February 2015.
Light commercial vehicles and Asian utility vehicles also performed well, with 21.7-percent and 24.1-percent growth to 10,071 and 4,419 units, respectively.
Data showed that on a month-on-month basis, nearly all categories posted increases from January figures except for AUVs and category 5 trucks.
Campi said year-to-date, all categories grew between 20 and 90 percent, with category 5 trucks posting the highest growth of 91 percent.
The automotive industry set a 2016 sales target of 350,000 units, with a conservative 10-percent increase from 2015. “Our 2016 target looks achievable given the current trend,” said Gutierrez.
Toyota Motor Philippines Corp. remained the top seller, with a 39.8-percent market share. Mitsubishi Motor Philippines Corp. came in second with 19.9 percent.
Ford Motor Company Philippines Inc. ranked third with 10.5-percent share while Isuzu Philippines Corp. and Honda Cars Philippines Inc. remained the fourth and fifth biggest players with 8.5-percent and 7.5-percent share, respectively.