Automobile sales increase 24.6% in 2016, surpass industry target

AUTO sales grew 24.6% in 2016, sustaining a run of double-digit growth for the industry, automakers said.

Data jointly released yesterday by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association ( TMA) showed that member companies sold a total of 359,572 units last year, up from the 288,609 units recorded in 2015.

The two groups surpassed their 2015 sales totals in October, by which point they had sold 292,502 units.

The sales total beat the groups’ 2016 target of 329,300 units by 12.36%.

Another domestic auto industry group, the Association of Vehicle Importers and Distributors, reports its member companies’ sales separately.

CAMPI and TMA said in a joint statement that the auto industry will “certainly meet the 2016 combined target with other industry players of 370,000 units.”

“We are very glad that we were able to surpass the target this year. Successful introductions of new models complemented by various events and promotions enabled us to meet the increasing customer demand in an expanding Philippine market,” Rommel R. Gutierrez, president of CAMPI and a first vice-president at Toyota Motor Philippines (TMP) said in a statement.

Automobile sales in December alone increased by 27.8% to 34,104 units from 26,679 in 2015’s comparable month. —