On the second full year since the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, vehicle sales seem to be on an uptrend.
In a report by The STAR, data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) showed that combined sales with the Truck Manufacturers Association (TMA) reached 369,941 units last year, higher than the 357,410 units sold in 2018.
The 3.5-percent growth is seen to have been driven by the performance of the commercial vehicle (CV) segment, helping reverse the double-digit (16 percent) decline of 2018. CVs accounted for over 70 percent of total sales rising by five percent to 260,744 units last year from 248,390 units in 2018.
Passenger car (PC) sales went up slightly to 109,197 units last year from 109,020 units in 2018.
According to The STAR, the total CAMPI-TMA sales for the month of December alone increased by 5.5 percent to 33,715 units last year from 31,945 units in the same month in 2018.
In terms of CV sales, it rose by eight percent to 24,469 units in December last year from 22,644 units in the same month in 2018.
Meanwhile, sales of PCs declined slightly to 9,246 units in December last year from 9,301 units in the same month in 2018.
Toyota Motor Philippines Corp. remained the bestselling automotive firm last year as it accounted for a 43.79-percent share of total sales.
Mitsubishi Motors Philippines Corp. placed second with a 17.32-percent share, followed by Nissan Philippines Inc. in third with 11.54 percent share.
Completing the top five are Suzuki Philippines Inc. in fourth place with 6.47 percent, and Ford Motor Co. Philippines Inc. in fifth with 5.92 percent.
CAMPI president Rommel Gutierrez said ending 2019 with higher sales is a welcome relief for the group in view of the previous year’s performance.
“The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully the industry’s collective efforts, supported by sustained economic growth, have paid off,” he said, and that the group is hopeful last year’s overall sales target of 410,000 units for the industry, including non-CAMPI members, would have been achieved.
The Association of Vehicle Importers and Distributors Inc. has yet to release its sales data.
“We will not rest on our laurels as we aim for further growth in the coming months and, hopefully, for the whole of 2020,” Gutierrez said. – Louella Desiderio