MANILA, Philippines - Vehicle sales of local assemblers hit record high in September on the back of a strong demand for passenger cars (PC) and commercial vehicles (CV).
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) reported yesterday that its combined sales with the Truck Manufacturers Association, Inc. (TMA) reached 20,924 units in September, up 41.7 percent from the 14,764 units sold in the same month last year.
The CAMPI said the growth was achieved mainly due to the introduction of new models and aggressive promotions.
PC sales posted a 65-percent increase to 8,477 units in September from 5,136 units in the previous year.
Sales of CVs also climbed 29.3 percent to 12,447 units last month compared to sales of 9,628 units a year ago.
The September results brought the CAMPI and TMA’s nine-month tally to 169,727 units, 29.2 percent higher than the 131,381 units sold in the comparable period last year.
PC sales in the January to September period jumped by 50.9 percent to reach 65,422 units this year from 43,359 units a year ago.
As of end-September, sales of CVs posted an 18.5 percent uptick to 104,305 units this year from the 88,022 units sales in the previous year.
For the nine-month period, Japan’s Toyota Motor Philippines Corp. remained the market leader with its 45.2 percent share.
Placing second was another Japanese firm Mitsubishi Motors Philippines Corp. with a 21.9 percent share, followed by American carmaker Ford Motor Co. Philippines Inc. with its 8.6 percent share.
Isuzu Philippines Corp. got the fourth spot with its 5.7 percent share followed by Honda Cars Philippines Inc. with a 5.6 percent market share.