Automakers top 2017 sales target

AUTOMAKERS saw sales grow by 18.4 percent last year with 425,673 units leaving showrooms, exceeding the 2017 goal of 400,500.

In a joint report, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said that December alone saw sales hit 45,494 units, up 22.4 percent from last year.

“We ended 2017 with a positive note. Aggressive promos, new model updates and the hard work of members helped contribute to expanding the Philippine market,” CAMPI President Rommel Gutierrez said in a statement.

“While exceeding our sales target for the year, we remain cautious in our projection for that the market will be able to adjust to the new auto excise tax in 2018“, he added.

Commercial vehicles ( CV) accounted for the bulk of 2017 sales, growing by 26.4 percent to 286,249 units.

Passenger car sales grew by a slower 4.7 percent to 139,424 units.

The top performer for 2017 was Toyota Motor Philippines Corp., which cornered 43.20 percent of the market, followed by Mitsubishi Motor Philippines Corp. (17.29 percent) and Ford Motor Co. Philippines (8.60 percent),

Honda Cars Philippines, Inc. with 7.46 percent and Isuzu Philippines Corp. with 7.07 percent.

Automobile importers have yet to release full-year sales data. Taking them into account, the industry targeted sales of 450,000 units for 2017.