Driving the growth was the CV segment which accounts for over 70 percent of total sales.
STAR/Michael Varcas
Vehicle sales reverse to 3.5% growth in 2019
Louella Desiderio (The Philippine Star) - January 15, 2020 - 12:00am

MANILA, Philippines — Local vehicle assemblers registered a 3.5 percent growth in sales last year, reversing the double-digit decline in 2018, driven by the performance of the commercial vehicle (CV) segment.

Data released yesterday by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) showed combined sales with the Truck Manufacturers Association (TMA) reached 369,941 units last year, higher than the 357,410 units sold in 2018.

Driving the growth was the CV segment which accounts for over 70 percent of total sales.

CV sales rose five percent to 260,744 units last year from 248,390 units in 2018.

Passenger car (PC) sales went up slightly to 109,197 units last year from 109,020 units in 2018.

For the month of December alone, total CAMPI-TMA sales went up 5.5 percent to 33,715 units last year from 31,945 units in the same month in 2018.

CV sales climbed eight percent to 24,469 units in December last year from 22,644 units in the same month in 2018.

Sales of PCs, meanwhile, declined slightly to 9,246 units in December last year from 9,301 units in the same month in 2018.

Toyota Motor Philippines Corp. remained the biggest automotive firm last year as it accounted for a 43.79 percent share of total sales.

Mitsubishi Motors Philippines Corp. placed second with a 17.32 percent share, followed by Nissan Philippines Inc. on the third spot with an 11.54 percent share.

Completing the top five are Suzuki Philippines Inc. on fourth place with its 6.47 percent share, and Ford Motor Co. Philippines Inc. on fifth place with a 5.92 percent share.

CAMPI president Rommel Gutierrez said ending 2019 with higher sales is a welcome relief for the group, coming from a double-digit or 16 percent decline in sales in 2018.

“The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully the industry’s collective efforts, supported by sustained economic growth, have paid off,” he said.

He said the group is hopeful last year’s overall sales target of 410,000 units for the industry, including non-CAMPI members, would be achieved.

The Association of Vehicle Importers and Distributors Inc. has yet to release its sales performance data.

“We will not rest on our laurels as we aim for further growth in the coming months, and hopefully for the whole of 2020,” Gutierrez said.

VEHICLE
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with