Auto sales on track for just modest growth in 2019

Total motor vehicle sales as of November this year improved by a modest 3.27 percent keeping the industry on track for its single digit or a flat growth forecast for 2019.

According to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers, Inc. (CAMPI-TMA) showed the group sold a total of 336,226 units or 3.27 percent higher than the 325,569 units sold in the same period last year.

For the month of November alone, the industry sold 34,465 units only or a measly 0.2 percent growth from 34,397 units purchased the previous month October.

Compared to November 2018 sales of 31,258 units, the industry showed a higher 10.3 percent increase.

Of the first ten-month period, CAMPI-TMA’s modest sales were driven by the commercial vehicle segment, which grew 4.7 percent to 236,275 units from 225,746 same period last year.

The passenger car segment posted a mere 0.1 percent improvement to 99,951 units from 99,823 units in the JanuaryNovember period last year. This segment’s year-to-date performance was pulled down by the 5.28 percent decline in sales in November of 9,551 units as against 10,083 units the previous month.

Based on the data, the overall sales was largely driven by the sports utility vehicles (SUVs) under the light commercial vehicle (LCV) category, which grew by a 11.8 percent to 187,160 units from 167,467 units last year.

The SUV or LCV sales now account for 74.18 percent share of total commercial vehicle segment, indicating a steady preference by Filipinos for bigger and more practical vehicle models for family and entrepreneurial purposes.