News: Automotive sales surged 17% in January?Campi -
09 Feb 2008
The local automotive industry sold a total of 8,808 units in January, up 17 percent year-on-year from 7,520 units.
“It is a good showing for the industry to jump-start the year with a strong growth. We forecast sales to continue to be strong in the coming months,” said Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc., in a report.
Official data from Campi showed that passenger car sales grew 28.5 percent last month on year those of while commercial vehicles climbed 12 percent.
Commercial vehicles, however, continue to dominate sales with a market share of almost 70 percent.
Lee said January sales against the December level fell due to seasonality. December sales usually has the highest monthly registered figure because of increased holiday spending.
She said sales in the passenger car segment were expected to remain robust in the coming months. Lee said the strong interest in new car models introduced last year translated into higher sales last month.
Car sales in January hit 2,964 units, up 28 percent from 2,307 units in January last year.
Commercial vehicles dominated sales with a double-digit growth of 12 percent, a good start for the largest category in the market. A total of 5,844 units were sold in this category against 5,213 units in the same period last year.
Toyota Motors Philippines Corp. continued to dominate the market with a total of 3,001 units sold, translating into a market share of 34 percent.
Honda Cars Philippines Inc. followed at the second spot with 1,476 units sold and a corresponding market share of 16.76 percent.
At third was Mitsubishi Motors Philippines Corp. with 1,144 units and a market share of 12.99 percent.
Korean car maker Hyundai Asia Resources Inc. sold 776 units for a market share of 8.81 percent.
Ford Motor Co. Philippines Inc. rounded up the list of five top car makers in terms of sales with 600 units sold in January and a market share of 6.81 percent.
Sales of Asian utility vehicles declined by 35.8 percent mainly due to seasonality.