CAMPI, TMA report 37% auto sales rebound in Sept.

MANILA: The automotive industry appears to be on a trajectory of growth anew following the hiccup in vehicle sales last August.

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) in a joint report revealed that total sales reached 24,523 units last September — growing 37% over the August total of 17,906 units.

The August sum represented a 12.8% decline from 20,542 units sold in July, and effectively put a halt to a three-month stretch of growth.

“CAMPI remains optimistic that the automotive sector will recover until the end of the year amid the new normal environment as the industry posted double-digit growth,” said the auto group’s president Atty. Rommel Gutierrez in a statement.

Amid sustained aggressive promotions and an influx of new models, it appears people are continuing to regain confidence and are buying vehicles once more. “Demands for new cars posted double-digits growth on all vehicle categories except trucks and buses. But we are still cautious that consumer spending is below pre-pandemic levels due to the evident shifts to essentials goods and services,” continued Atty. Gutierrez.

Year-to-date total sales is at 148,012, 44.6% lower than the same period last year.

Pacing all brands is Toyota Motor Philippines Corporation (TMP) which cornered 43.46% of the market. From 8,044 units sold in August, TMP moved 10,657 units, in September up by 32.5%. In second place is Mitsubishi Motors Philippines Corporation (MMPC), whose sales significantly grew by 105.4% from 2,621 units in August to 5,384 in September. MMPC came away with 21.95% of the market last month.

The Nissan Philippines, Inc. (NPI) performance month-on-month was virtually unchanged from 1,881 units in August to 1,866 units in September (-0.8%), but it still occupied third place with 7.61% market share. In fourth is Suzuki Philippines, Inc. (SPH) whose sales grew by 26.8% from 1,345 units in August to 1,706 units in September, for 6.96% market share.

Completing the top five brands in sales is Ford Motor Company Philippines, Inc. (6.41% market share). Sales grew by 27.6% from 1,233 units in August to 1,573 units last month.

CAMPI and TMA had already recalibrated its 2020 sales target to 240,000 units in view of the challenges brought about by the pandemic and even the Taal Volcano eruption early in the year.

Photo from Volkswagen

Also read: After 3 mos. of growth, auto sales slump 12.8% in Aug.