Vehicle sales rise 17% in 11 months

MANILA, Philippines — Philippine automotive sales maintained its speed in November, fueling a robust double-digit acceleration in 11 months to remain on track in finishing the year on a high note.

In a report released yesterday by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), vehicle sales in November posted a 23.8 percent increase to 40,799 units from 32,966 units in the same month last year.

"November sales result is higher than the month of October because of increased sales of major assemblers and distributors," CAMPI president Rommel Gutierrez said.

For the 11-month period ending November, combined vehicle sales of CAMPI and TMA members reached 380,179 units or 16.8 percent higher compared to 325,468 units in the same month last year.

CAMPI and TMA have set a full year target of 400,000 unit sales this 2017.

“Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models from other brands. We are confident that the year-end industry target will be met as we continue with competitive promotional support and marketing activities," Gutierrez said.

Commercial vehicles accounted for more than half or 67.06 percent of total vehicles sold from January to November, with sales reaching 254,937 units.

Passenger cars, which accounted for 32.94 percent of total sales as of end-November, rolled out 125,242 units.

CAMPI and TMA said driving the strong sales in both categories are the continuing promotion and stock availability among car firms.

Toyota remains the industry leader with a total market share of 43.82 percent, followed by Mitsubishi with 17.55 percent.

Ford got the third spot with 8.42 percent, while Honda and Isuzu completed the top five market players with 7.05 percent and 6.91 percent, respectively.