97,744 automobiles traded in Q2 2019

MANILA: The recently released data by AVID (Association of Vehicle Importers and Distributors), CAMPI (Chamber of Automotive Manufacturers of the Philippines), and TMA (Truck Manufacturers Association) shows that the automobile sales in the Philippines went up by 3.52% in Q2 2019 when compared to the same period of time during the previous year. With sales figures portraying selling of 97,744 units in the second quarter of 2019, the Philippine automobile industry saw an increase of 0.38% from the first quarter of 2019.

The leader of the pack were commercial vehicles with 67,330 trades, while 30,414 sales went into the court of passenger cars. While the commercial vehicle segment increased by 2.88% in the second quarter of 2019, the Passenger car sales, on the other hand, went down by 4.76%. Top performers during Q2 2019 were Toyota (39,774 units), Mitsubishi (14,964 sales), Nissan (9,821 trades), Hyundai (7,705 sales), and Suzuki (6,005 units).

"We remain very optimistic that the local auto industry is already on a path of steady growth after we conclude the first half of the year on a positive note", said Atty. Rommel Gutierrez, who s the CAMPI president.

Speaking of the first half of 2019 as a whole, there was an increase of 1.87% when compared to the same time period last year. Compared to the 191,470 units traded in 2018, the Philippine automobile industry witnessed sales of 195,057 units during the first half of 2019.

"Despite headwinds that include an economic slowdown in the first quarter of 2019, AVID posted a third straight month of positive growth to finish the second quarter strong. We believe that this slowdown is temporary since the Philippines is now on a higher growth path and is a leading economy in the ASEAN. Given these, we will continue to introduce exciting models and innovative services to give consumers more value for their money", said AVID president Ms Ma. Fe Perez-Agudo.

The top automobile sellers during the first half of 2019 were Toyota (73,126 units), Mitsubishi (30,577 sales), Nissan (21,060 trades), Hyundai (17,654 units), and Ford (11,227 sales), Suzuki (10,817 units), and Honda (9,928 trades).

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