Auto sales up 16.8% in first 11 months ahead of higher excise tax
AUTO sales in the 11 months to November rose 16.8% as buyers got their purchases in ahead of a higher excise tax to take effect in 2018, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. (TMA) said.
In a joint report, the associations said sales in the 11 months to November totaled 380,179 units, or within striking distance of the full-year target of 400,000 units.
In November, sales totaled 40,799 units, up 23.8% from a year earlier and up 11.7% from October.
CAMPI President Rommel Gutierrez in a statement said December sales will be supported by aggressive promotions.
“Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models. We are confident that the year-end industry target will be met as we continue with competitive promotional support and marketing activities,” he added.
Car sales rose 3.8% to 125,242 units in the 11 months, representing 32.94% of the auto market, while commercial vehicle (CV) sales rose 24.5% to 254,937 units, or 67.06% of the market, driven by promotions and widely available stock.
Sales in the Light Commercial Vehicle (LCV) and Asian Utility Vehicle (AUV) subcategories rose 26% and 22.2%, respectively in the first 11 months. LCVs sales totaled 165,814 units while AUV sales amounted to 73,414 units.
Light truck sales rose 15.7% to 9,195 units.
Sales of category IV and V trucks and buses rose 37.1% and 9.9% respectively to 4,430 units and 2,084 units in the 11 months.
Toyota was the leading brand, holding 43.82% of the market, with Mitsubishi at 17.55% and Ford at 8.42%. —