Vehicle sales up 36% in September

MANILA, Philippines — Vehicle assemblers boosted their hopes of achieving the industry’s sales target for the year as plant rollouts accelerated 35.6 percent month-on-month in September.

A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) yesterday showed total vehicle sales reached 21,493 units in September, up from the 15,847 units sold in August when strict lockdowns were imposed in Metro Manila and nearby provinces.

Passenger car (PC) sales grew 34.45 percent to 6,580 units, while commercial vehicle (CV) sales went up 36.2 percent to 14,913 units.

Compared to the 24,523 units sold in September last year, however, total sales for the month declined 12.4 percent.

CAMPI president Rommel Gutierrez said the double-digit growth in sales in September from the previous month is a favorable development, citing this is crucial in achieving the industry’s sales target by the end of the year.

“Amid the challenges, the industry’s optimism still lingers for a better sales performance in the fourth quarter this year. This is driven by the overall improved consumer confidence resulting from a more buoyant economic condition and household spending, according to the recent government data,” he said.

Earlier, he said the industry is aiming for total sales of 295,400 units this year, up 20.9 percent from last year.

For the January to September period, total CAMPI and TMA sales climbed 29.5 percent to 191,605 units from 148,012 units in the same period last year.

As of end-September, PC sales increased 38.3 percent to 60,982 units, while for the CV segment, sales were up 25.7 percent to 130,623 units.

Toyota Motor Philippines Corp. continued to hold the biggest market share at 48.18 percent as of end-September.

Mitsubishi Motors Philippines Corp. placed second with a 14 percent share, while Ford Motor Co. Philippines Inc. came in third with 7.67 percent.

Completing the top five are Suzuki Philippines Inc. with a 7.54 percent share, and Nissan Philippines Inc. with a 6.91 percent share.