Vehicle industry still on track to topping ’96 record

CAR FIRMS remain on track to posting a fresh sales record this year despite a month-on-month decline in the number of vehicles leaving showrooms, an industry group yesterday said.

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), in a statement, reported a 16.6% drop in November vehicle sales across categories from a month earlier.

“It would seem that the normal seasonality curve is not followed for this year 2010 given the unique circumstances surrounding the year with election spending and replacement of vehicles [late last year] due to the typhoon Ondoy,” it said.

Year to date sales, however, remained up an annual 28.9% with a total of 153,163 vehicles sold.

“We continue to be confident that this year 2010 will finally exceed the highest sales ever attained by the industry in 1996 of over 162,000,” the statement quoted CAMPI President Elizabeth H. Lee as saying.

“This year is an interesting year for auto players” given factors such as successful elections, improved business and consumer confidence, aggressive financing packages and strong dollar remittances, she added.

November sales totalled 11,945, down from October’s 14,317 units.

Passenger car sales fell by 22.8% with 3,922 units from 5,081 units a month earlier. Commercial car sales also declined, by 13.1% to 8,023 from 9,236 in October.

Asian utility vehicle (AUV) sales fell by 7.5% to 2,913 from 3,149 while light commercial vehicles saw a larger 17.1% drop to 4,795 units sold last month from 5,782 in October.

CAMPI did not release individual car company data, only noting that the latest sales tally came from reports received as of Dec. 8.

It was not known if this had any relation to reports that Hyundai Asia Resources, Inc. (HARI) would be bolting the industry group.

HARI, in a separate statement, acknowledged that it failed to submit its November sales report but denied that it was leaving CAMPI.

It said November sales of 1,578 units were up 32% from a year earlier. –Businessworld