Sept. auto sales fall 9.7%

Business World - - Corporate News - J.C.Lim

VE­HI­CLE SALES slipped nearly 10% year-on-year in Septem­ber, ac­cord­ing to the joint re­port is­sued by the Cham­ber of Au­to­mo­tive Man­u­fac­tur­ers of the Philip­pines, Inc. (CAMPI) and the Truck Man­u­fac­tur­ers As­so­ci­a­tion (TMA).

A to­tal of 31,116 units were sold dur­ing the month, 9.7% lower than the 34,445 units sold in Septem­ber 2017.

How­ever, CAMPI noted the Septem­ber sales fig­ure is a 2.6% in­crease from the 30,313 units sold in Au­gust.

CAMPI Pres­i­dent Rom­mel R. Gu­tier­rez said the in­tro­duc­tion of new mod­els helped drive sales growth for two straight months.

“We re­main op­ti­mistic that this trend will be sus­tained be­fore the year ends, as we ex­pect boost in sales from the up­com­ing 7th Philip­pine International Mo­tor Show this month and the Christ­mas sea­son,” he said in the state­ment.

The auto in­dus­try has slumped this year with the im­ple­men­ta­tion of the first pack­age of the Tax Re­form for Ac­cel­er­a­tion and In­clu­sion law.

The tax re­form pro­gram im­posed higher ex­cise taxes on ve­hi­cles, with those cost­ing P600,000 and be­low be­ing taxed 4%, up from 2%. The tax on cars priced be­tween P600,000 and P1 mil­lion was ad­justed to 10%, from the pre­vi­ous charge of P12,000 plus 20% of the amount in ex­cess of P600,000.

For the first nine months of 2018, ve­hi­cle sales dropped 13.8% to 261,057 units, from 302,869 units sold dur­ing the same pe­riod last year.

CAMPI is one of two au­to­mo­tive as­so­ci­a­tions that re­leases data on auto sales, with a mem­ber­ship con­sist­ing of auto com­pa­nies that as­sem­ble lo­cally. The as­so­ci­a­tion’s sales fig­ures re­flect the state of the mar­ket for mass-mar­ket cars, com­pared to higher-end cars which are usu­ally im­ported.

Com­mer­cial ve­hi­cle sales, a proxy for durable-goods in­vest­ment and broader eco­nomic ac­tiv­ity, dropped 9.4% year-on-year in Septem­ber to 21,675 units. For the ninemonth pe­riod, com­mer­cial ve­hi­cle sales fell 10.6% to 179,979 units year-on-year.

Pas­sen­ger car sales de­clined 10.2% an­nu­ally to 9,441 units in Septem­ber. This brought the nine-month sales of pas­sen­ger sales 20.2% lower to 81,078 units.

Toy­ota Mo­tors Philip­pines Corp. con­tin­ued to lead the mar­ket, ac­count­ing for 42% of year-to-date sales. Mit­subishi Mo­tors Philip­pines Corp. fol­lowed with 19.38% mar­ket share, and Nis­san Philip­pines, Inc. with 9.39%.

Round­ing up the top five are Ford Mo­tor Com­pany Phils., Inc. with 6.94% and Honda Cars Philip­pines, Inc. with 6.67%. —

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