Auto sales slump 15% on-year in Jan.

The domestic motor vehicle industry started the year slow with sales slumping to 15 percent in January as most car companies posted steep declines except Nissan Philippines Inc.

(NPI), which registered a dramatic 55 percent jump in sales on the first month of 2019.

While January sales have been historically slow, the industry has been on a slump since the implementation of higher excise tax on cars.

A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed the group of 21 car firms managed to sell 26,888 units only as against 31,645 units in January 2018.

The passenger car segment declined sales by 13.3 percent or 8,487 units only versus 9,790 units in January last year. The commercial vehicle segment also posted a negative 15.8 percent to 18,401 units sold only from 21,855 units in January last year.

In terms of vehicle categories in the commercial segment, only the light trucks (pick-ups) and trucks and buses registered positive growths of 32.6 and 11 percent, respectively.

Except for NPI, which registered the highest markup and few others with flat growth, majority of CAMPI-TMA members were in the red.

NPI sustained its growth with a hefty 55 percent growth in sales in the first month of 2019.

NPI’s sales went up to 3,100 units from 2,000 units in January 2018. This put NPI in the third slot in the overall CAMPI-TMA members’ ranking.

Industry leader Toyota Motor Philippines sold a total of 11,355 units to remain on top. But its performance was 24.1 percent off compared to January 2018 sales of 13,217 units.

Mitsubishi Motors Philippines Inc. followed with 5,239 units or 22.5 percent lower than 6,757 units.

Honda Cars Philippines finished with 1,943 units to make it to the fourth place.