Automobile sales recovered in September after the previous month’s decline as passenger car (PC) and commercial vehicle (CV) segments sales continue to improve.
In a report by The STAR, combined sales of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) increased by 2.3 percent to 31,820 units in September compared to the same period last year (31,116 units).
Sales of PC grew by three percent to 9,721 units in September from 9,441 units in 2018 while CV sales went up by two percent to 22,099 units in the same month from 21,675 units last year.
The STAR reported that CAMPI and TMA sold a combined 267,364 units from January to September, 2.4 percent higher over the same period last year (261,161 units).
PC sales slightly dipped to 80,317 units in the nine-month period from last year’s 81,182 units. Meanwhile, CV sales grew by 3.9 percent to 187,047 units as of the end of September from previous year’s 179,979 units.
Toyota Motor Philippines Corp. sustained its lead in the January to September period through its 42.68 percent market share. Mitsubishi Motors Philippines Corp. secured the second spot with a 17.21 percent share, followed by Nissan Philippines Inc. with 12.34 percent.
Suzuki is in fourth spot with 6.52 percent share while landing fifth is Ford Motor Cor. Philippines Inc. with 6.13 percent.
CAMPI remains confident that the vehicle industry would end 2019 with a positive growth in sales as demand continues for PCs and CVS.
“CAMPI has expected this recovery coming into the last quarter of the year,” CAMPI president Atty. Rommel Gutierrez said.
“Indeed, we welcome this positive growth as this is a good indicator of the increasing and widening demand for vehicles that has been the trademark of our industry. We are optimistic that the industry is well-positioned and prepared to progressively get back on track towards strong positive growth in the coming months,” he added. – Louella Desiderio/STAR