By Kris M. Crismundo
MANILA, May 11 (PNA) — The Philippines automotive industry grew anew by double-digit, a bullish performance for four consecutive months this year.
Joint report of Chambers of Automobile Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that the industry sales for April 2015 increased by 18 percent to 21,259 units from April 2014’s 18,015 units.
At the start of the year, vehicle assemblers’ sales grew by 19 percent in January and 23 percent in months of February and March.
Likewise, four-month sales of the local industry reached to 84,141 units, 21 percent higher than January-April 2014 sales of 69,737 units.
CAMPI President Atty. Rommel Gutierrez noted that there is a growing share of passenger cars (PC) this year compared to last year from 36 percent of the total vehicles sales in 2014 to 40 percent this year.
“This continuing increase in passenger car sales is an indication that the country has entered the motorization stage. This is also consistent with economists’ projection that consumer spending growth will remain strong as per capita income hopefully reaches USD3,000 in 2015,” Gutierrez said.
PC sales also led the growth this year with sales increasing by 35 percent to 33,382 units against 24,824 units being sold in the first four months of 2014.
Commercial vehicle (CV) still accounted for largest share in sales in January-April 2015 period with a total of 50,759 units, up by 13 percent from last year’s 44,913 units.
Light commercial vehicle (LCV) sales increased by 17 percent to 33,764 units from 28,872 units.
Asian utility vehicle (AUV) also boosted its sales by 3.2 percent 14,590 units this year from 14,134 units last year.
For truck segments, light truck sales in January-April 2015 period climbed by 14 percent to 1,455 units from 1,279 units during the same period in 2014.
Trucks and buses category IV and V sales likewise jumped by 33 percent and 114 percent, respectively.
Trucks and buses category IV had 649 units sold in the first four months of the year while category V had a total of 301 units.
Leading the sales in the local market were Toyota Motors Philippines Corporation with 44.3 percent market share; Mitsubishi Motors Philippines with 19.2 percent share; Ford Group Philippines with 8.2 percent share; while Isuzu Philippines Corporation with 7.6 percent share; and Honda Cars Philippines with 6.3 percent share. (PNA)