The Philippines auto industry sales dip by 5.7% in November

MANILA: Not all the automobile markets manage to gross growth every single month, and sometimes, the downside is pretty significant. The Philippine automobile market has dipped in terms of the sales in the month of November 2018. This 5.7% dip in the month-on-month has come on the contrary side of the promising positive performance in the Q4 this year.

The sales aggregate, as reported by the CAMPI (Chamber of Automotive Manufacturers of the Philippines Inc.) and TMA (Truck Manufacturers Association) lingers at a bare 31,258 units. Apart from just the dip in the month-on-month, the November 2018 sales lagged 23.4% below the November 2017 sales, which was 40,799 units.

 

Even after the massive dip in the sales, the President of CAMPI, Mr Rommel Gutierrez looks confident that the industry will pull off pretty well in the last month of the year. However, it is to be noted that despite the downward trend, most of the premium luxury auto brands managed to grow, albeit slightly. Topping the list is Mercedes-Benz followed by BMW, Lexus, and Jaguar-Land Rover. The sales number grossed by these four companies are 63, 50, 38, and 10 (units) respectively.

Certain other manufacturers have also managed to grow in the month, including Mazda (69.7% growth) and Ford with a growth of 16.4%. The brands that dipped on the sales are Suzuki, Mitsubishi, and Honda by 20.9%, 9.7%, and 8%, respectively.

The total number of passenger cars sold in the month was 9,197, which amounts to 2.62% dip, while the commercial vehicles amounted to 22,061, which means a decline of 6.9%. And with this, the market share was dominated by the commercials with a total of 70.58% presence.

The total market share continues to be ruled by Toyota Philippines on the year-to-date report with 42.55% presence. It has been followed by Mitsubishi and Nissan with 19.05%, and 9.73%, respectively.