By Bernie Cahiles-Magkilat
Motor vehicle sales continued inching up with 205,945 units sold as of July or a modest 3.16 percent increase against 199,628 units sold in the same period last year boosting confidence that the domestic motor vehicle industry would be able to exceed last year’s sales by the end of this year.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed encouraging growth indicators.
Notably, the report showed Suzuki Philippines, Inc. now placing fourth largest from fifth place last month in terms of sales with 13,119 units or 18.3 percent growth from 11,086 units last year. Suzuki now accounts for 6.37 percent market share among 25 members of CAMPI and TMA.
Among the positive indicators was the July sales which posted a double-digit growth of 13.5 percent with 31,810 units from 28,038 units recorded in the same period a year ago. On a month-on-month basis, sales performance is slower by measly 0.4 percent against 31,950 units recorded in the previous month.
CAMPI President Rommel R. Gutierrez expressed optimism the industry would finally exceed last year’s sales, which floundered following the imposition of higher taxes under the TRAIN Law.
“We are optimistic that if we are able to sustain this growth trend, we will be able to exceed our sales performance of last year,” said Gutierrez.
He noted of 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. Historically, July is also considered as one of the lean months of the industry.
Of the overall seven-month sales, commercial vehicle sales grew 5.5 percent to 144,130 units from 136,669 units while the passenger car segment was still in the negative 1.8 percent to 61,815 units from 62,959 units last year.
Industry leader Toyota Motor Philippines still continued with a runaway market share of 42.28 percent to 87,574 units from 84,401 units in the same period last year.
Mitsubishi Motors Philippines followed with 19.4 percent market share with 35,977 units sold from 38,827 units last. Nissan Philippines, Inc. cemented its hold on the third spot with 53.6 percent growth in sales to 24,711 units from 16,091 units.
Completing the top five is Ford Motor Company Philippines, Inc. with 13,095 units, but a 10.8 percent decline from the same period last year of 14,685 units last year.