PH auto industry records another double-digit growth in Sept.

MANILA: According to a joint report from the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), total new motor vehicle sales for September increased by 64.2 percent to 35,282 units.

This represents the increase from the 21,493 units sold during the same time last year.

For seven straight months, the CAMPI-TMA has experienced double-digit growth year over year.

CAMPI-TMA has sold 248,154 units so far this year, which is a 29.5 percent increase from the same time last year.

Sales of commercial vehicles increased by 44% in the first seven months to 188,096 units from 130,623 units in the same period in 2021.

The passenger car segment, on the other hand, had a minimal 1.5 percent dip, from 60,982 units sold in the same period last year to 60,058 units sold this year.

All commercial vehicle classes, with the exception of big trucks and buses (Category V), had growth, led by light trucks or sports utility vehicles, which increased by 48 percent to 148,706 units from 100,464 in the January-September sales of 2021.

Asian utility vehicle sales increased by 38.8% to 32,186 units from 23,187 units during the same time last year.

Sales of Category IV trucks and buses and light trucks increased by 5.1% and 9.2%, respectively.

Notably, Toyota Motor Philippines increased its market share from 48.18 percent in the same period in 2021 to 124,884 units, or 50.33 percent, for the first seven months.

Mitsubishi Motors Philippines maintained its second place with 35,139 units sold, equivalent to a 14.16 percent share. This brand is trailed by Ford Philippines with 16,244 units or 6.55 percent share, and Nissan Philippines Inc. with 16,068 units that translated to a 6.48 percent share.

Completing the top five selling carmakers was Suzuki Philippines Inc. with 14,475 units, or 5.83 percent of the market.

 

Rommel Gutierrez, President of CAMPI, stated that the industry began to see an increase in demand for new automobiles last month.

“The automotive industry foresees a continued growth in the latter part of the year, benefitting from the improving economy based on the recent growth forecast of 6.5 percent this year – attributed to strong domestic demand and continued easing of pandemic restrictions,” Gutierrez said.

Photos from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), Isuzu Philippines Corp, Hazel Nicole Carreon, Kent Flores, and Roy Robles

Also read: Auto sales increase by 90% in Aug.