Auto industry posts highest monthly sales in October

Total motor vehicle sales in October reached 34,397 units an 8.1 percent growth from the 31,820 units sold in the month of September and reflecting the highest monthly sales for the industry so far this year.

Elated by this encouraging growth, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said this is an indication of a continuous market demand for vehicles and a clear upward trend for the industry as it begins the fourth quarter of 2019.

This year’s CAMPI and TMA October month-on-month figures also registered a 3.8 percent increase from the 33,150 units sold in the same period last year.

The industry’s year to date sales likewise shown a positive increase although still at a moderate 2.53 percent. Members of both automotive industry organizations have so far sold 301,761 units since the start of the year as against 294,311 units in the same first ten-month period.

Of total, sales of passenger cars posted a negative 0.2 percent to 90,400 units from 90,626 units last for total market share of 29.96 percent. But, sales of commercial vehicles improved slightly by 3.8 percent to 211,361 units from 203,685 units, accounting the bulk of 70.04 percent of total new vehicle purchases for the period.

Among the 24 member firms of CAMPI-TMA, Toyota Motor Philippines continued to lead the pack with 130,520 units sold or 5 percent higher than its 124,329 units sold last year. The Toyota brand now accounts for a higher market share of 43.25 percent.

Mitsubishi Motors Corp. remained second with sales of 51,515 units for a market share of 17.07 units. Mitsubishi’s sales, however, showed a 9 percent decline from the same period performance of 56,592 units.

Nissan Motor Philippines Corp. remained steady at third with 36,677 units old or 30 percent higher than the 28,210 units sold in the same period last year. Nissan now accounts for 9.59 percent share of the local auto market.

CAMPI President Rommel Gutierrez said the growth is a much needed boost to secure our overall target this year.