Auto sales rise over 23% in July

CAR sales in July hit 36,951 units, up 23.3% year on year, as both passenger and commercial vehicles recorded double-digit growth, according to the combined reports of auto industry associations.

Year-to-date sales hit 233,115 units, up 18.1% from a year earlier, according to the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).

CAMPI President Rommel R. Gutierrez said the car makers remain cautious as they enter the second half of the year.

“While monthly vehicle sales appear to continue to be strong, our initial overall market outlook for the year has not changed,” he said in a statement.

“As the original sales target by year-end looks achievable, we will continue to be vigilant with actual vehicle sales in the coming months,” added Mr. Gutierrez, who is also first vice- president for government and industry affairs of Toyota Motor Philippines Corp.

Passenger cars posted sales of 12,701 units, an increase of 13.1% from 11,230 units in July 2016. Commercial vehicles recorded a 29.4% rise to 24,250 units from 18,737 units previously.

On a monthly comparison, car sales this year were strongest in June at 37,631 units followed by the numbers for July. They were lowest in February at 27,040 units.

In year-to-date sales, Toyota maintained its lead, cornering 44.1% of the market followed by Mitsubishi Motors Philippines Corp. with 17.65% and Ford Motor Co. Philippines, Inc. with 8.44%. Isuzu Philippines Corp. and Honda Cars Philippines, Inc. rounded out the top five with 6.96% and 6.78%, respectively.

In the car segment, Toyota led with a share of 45.88%, followed by Mitsubishi with 14.72% and Honda with 8.36%. Suzuki was in fourth place with 6.22% followed by Nissan Philippines, Inc. with 5.84%.

Toyota also led the number of commercial vehicles sold, with a share of 43.54%, with Mitsubishi in second place with 19.06%. Isuzu, Ford and Nissan complete the top five with 10.53%, 8.42% and 5.31%, respectively.

The report breaks down the share of each segment of commercial vehicles, which is dominated by light commercial vehicles at 97,328 units or 63.1% of the total. Asian utility vehicles followed with 46,879 units or a share of 30.39%. Light trucks accounted for 5,373 units or 3.48% of the total. Trucks and buses accounted for the rest. Nearly all segments reported double-digit growth in July. —