Vehicle sales dip 4% in September

MANILA, Philippines —  The automotive industry’s sales declined for the third consecutive month in September due to unfavorable weather conditions.

Data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that combined sales slipped by four percent to 38,029 units in September from 39,542 units in the same month last year.

However, vehicle sales in September were five percent higher than the 36,174 units sold in August.

Passenger car sales fell by 24 percent to 7,948 units in September from 10,438 units in the same month a year ago.

Commercial vehicle sales, on the other hand, went up by 3.4 percent to 30,081 units from 29,104.

The data also showed that sales of electric vehicles (EVs) reached 2,223 units in September.

Of the total EVs sold in September, 1,750 units are hybrid electric vehicles (HEV), 379 are battery electric vehicles (BEV) and 94 are plug-in hybrid electric vehicles (PHEV).

“The year-on-year decline in vehicle sales could partly reflect higher base or denominator effects a year ago amid weather-related disruption amid the series of storms or typhoons or flooding in recent weeks or months, as well as the series of earthquakes in some parts of the country, all of which reduced the number of working days or business days,” Rizal Commercial Banking Corp. chief economist Michael Ricafort said.

He added that the growth in motorcycle sales in recent months might have also affected demand for cars.

Ricafort said motorcycles “could have become a cheaper or better alternative transport for some Filipinos, in terms of lower acquisition costs, maintenance costs, fuel consumption and space requirements.”

From January to September, CAMPI and TMA’s total vehicles sales dipped by 0.3 percent to 343,410 units from 344,307 units in the same period last year.

Sales of the passenger car segment fell by 24 percent to 69,306 units during the nine-month period from last year’s 90,765 units.

Meanwhile, commercial vehicle sales went up by eight percent to 274,104 units from 253,329 units.

EV sales reached 20,662 units from January to September.

Of the total EVs sold, 16,335 units were HEVs, 3,657 units are BEVs and 670 units are PHEVs.

Toyota Motor Philippines Corp. remained the leading automotive player with its 48 percent market share from January to September.

Mitsubishi Motors Philippines Corp. placed second with 19 percent, followed by Ford Motor Co. Philippines Inc. with 4.86 percent, Nissan Philippines Inc. with 4.84 percent and Suzuki Philippines Inc. with 4.77 percent.