Auto sales report for April shows a decline of 9.3 percent
MANILA: The Philippines auto industry is currently witnessing the high tides of the TRAIN (Tax Reform for Acceleration and Inclusion) law that was imposed only a while back. As discussed in the 2018 Q1 auto sales report, this new law has hiked the excise duty on cars, thus affecting the inventories of the auto dealers.
According to the recent sales report put together by the Truck Manufacturers Association and Chamber of Automotive Manufacturer of the Philippines, there is a 9.3 percent dip in April auto sales compared to the previous month. In March, a total of 28,216 units were sold, and this figure rolled down to 25,583 units in April.
Compared to the last year sales output, i.e. April 2017, the auto industry witnessed a decline of 11.9 percent. However, what's interesting is that amongst the ongoing fall-down, the more accomplished brands recorded an uptrend in sales.
Industry experts believe that sales figure would once again come back on track with significant brands scheduled to introduce new cars. The officials of CAMPI, however, predict a flat sales growth for the year.
If we see segment wise sales shrink, then it was the Commercial Vehicle zone to observe a major setback with 30 percent decline. The Passenger Car segment settled for a 9.4 percent drop. Out of the total 25,583 units sold in April, the Passenger Car covered 38.74 percent of market share with 9,910 units. The Commercial Vehicles sales totalled 15,673 units, comprising 61.26 percent of the market share.
High-end auto brands were amongst the ones to witness major sales drop. Top three brands resting in this category are - Mercedes-Benz with a decline of 75.6 percent, Mitsubishi with a 62.5 percent downtrend, and Honda with a 5.1 percent drop.
As for the star performers of the month, Toyota sold maximum units and witnessed a growth of 12.8 percent. Next up line to experience growth is Suzuki and Foton with 10.7 percent and 10 percent hike.
Here is the list of top five performing auto brands in April -
- Toyota - 50.3 percent market share (12,867 units)
- Mitsubishi - 9.87 percent market share (2,525 units)
- Nissan - 8.1 percent market share (2,073 units)
- Honda - 7.56 percent market share (1,935 units)
- Ford - 7.18 percent market share (1,836 units)
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3760 mm
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3995 mm
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4475 mm
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1780 mm
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1665 mm
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1818 mm
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1735 mm
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1706 mm
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Height
1435 mm
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1515 mm
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1489 mm
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138
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65
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112
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82
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89
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150 Nm
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113 Nm
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132 Nm
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Yes
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Yes
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Rear A/C Vents
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