Auto sales up 8.3% in 11 months to 114,564 units

Automotive sales went up by 8.3 percent to 114,564 units in the first 11 months of this year from 105.771 units in the same period last year despite a 7.7-percent drop in the November sales performance.

“The Philippine auto industry’s year to date growth rate is a stark contrast to that of the largest auto market — the US where the November auto sales plunged another 35 percent, the lowest in two decades,” Elizabeth H. Lee, Chamber of Automotive Manufacturers of the Philippine (CAMPI) president said.

“The local Philippine auto industry, however, is still cautiously optimistic as it may still reach a yearend sales volume that will show the highest sales in 11 years. With the availability of credit in the market, buyers continue to buy but have become more scrutinizing in the purchase of vehicles. Competition remains stiff,” Lee added.

Lee noted that the auto industry is faring relatively better than its bigger counterparts. Commercial vehicles continue to dominate overall vehicle sales nationwide with a 64-percent market share gaining 6.7-percent growth in sales. Passenger cars on the other hand have 36-percent market share.

Toyota Motor Philippines sold the most vehicles from January to November this year as it captured 36.7 percent of the market. It has sold 41,997 units overall. Mitsubishi Motors Philippines Corp. commanded a 14-percent share with 15,984 units while Honda Cars Philippines Inc. was a close third with 11.8 percent of the market which translates to 13,557 units.

Lee said that for the remainder of the year, buyers can take advantage of the the last quarter sales programs of most automakes while at the same time enjoy the current price levels which have yet to reflect the full impact of the increase in raw materials and logistics cost.  

Meanwhile, commercial vehicles (CV) grew 6.7 percent. Month-on-month decrease was posted at 10.3 percent.Such decrease is attributed to delays in the arrival of supplies.

Toyota sold the most CV with 34.4 percent market share or 25,174 units. This was followed by Mitsubishi with 19.8-percent share and 14,468 units. Third was Isuzu Philippines Corp. with 12.5 percent or 9129 units.

For passenger cars (PC), year to date sales grew 11.3 percent compared to the same period last year. Compared to October 2008, the demand for PC went down by 3.1 percent.–Ma. Elisa P. Osorio, Philippine Star