Vehicle sales declined 12 percent in September from a year ago, but showed an improvement on a monthly basis, two industry groups said Monday.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report sales of members fell to 21,493 units in September from 24,523 units in the same month last year.
Data showed that passenger car sales dropped 23.1 percent to 5,580 units from 8,556 units while those of commercial car sales dipped 6.6 percent to 14,913 from 15,967 units.
CAMPI said sales on a monthly basis showed a 35.6-percent improvement in September from 15,487 units in August.
“Amid the challenges, the industry’s optimism still lingers for a better sales performance in the fourth quarter this year. This is driven by the overall improved consumer confidence resulting from a more buoyant economic condition and household spending, according to the recent government data,” said CAMPI president Rommel Gutierrez.
Gutierrez said the increasing sales performance was a favorable development in attaining the industry’s sales target as the year ends.
Data showed that passenger car sales in increased 34.5 percent in September to 6,580 units from 4,079 units in August.
Commercial vehicle sales declined 36.2 percent to 14,913 units in September from 10,953 units in the previous month.
CAMPI said the sector in the first nine months posted a 29.5-percent increase in sales to 192,605 units from 158,013 units in the same period last year.
Passenger car sales grew 38.3 percent to 60,982 units from 44,079 units while commercial vehicles reported a 25.7-percent increase to 139,623 units from 103,933 units. All commercial vehicle sub-segments posted higher sales.
Among the automotive players, Toyota Motor Philippines Corp. continued to lead with 48.18-percent market share, followed by Mitsubishi Motor Philippines Corp. with 14 percent.
Ford Motor Company Philippines Inc. emerged as the third leading car company with a share of 7.67 percent while Suzuki Phils. Inc. ranked fourth with 7.54-percent share, followed by Nissan Philippines Inc. at fifth sport with 6.91 percent.