Motor vehicles sales post record growth in November

Motor vehicle sales in November jumped to its highest monthly sales at 23.8 percent making the industry on track with overall year-end sales goal of 459,000.

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that sales in November reached 40,799 units versus, reflecting a 23.8 percent growth from 32,966 units in the same month last year. This record monthly performance has brought the overall January-November sales to 380,179 units or 16.8 percent growth from 325,468 units in the same period last year.

The strong growth was driven by robust sales of trucks and buses and light commercial vehicles (LCVs) or the sports utility vehicles. Of total sales, the commercial vehicle (CV) segment contributed the biggest as it grew 16.4 percent with the total units sold at 28,898 from 24,825 units last year.

Most categories in the CV segment posted excellent growth rate. Among the CV categories, trucks and buses got the robust increase at 94.8 percent due to fleet deliveries. Sales of light commercial vehicles registered the second highest growth at 57.5 percent from 12,905 to 20,329. Sales of Asian utility vehicles increased by 5.9 percent from 6,449 units last year to 6,832. The passenger cars segment grew slightly higher by 4.8 percent from 11,686 units to 11,901 this month

CAMPI President Rommel Gutierrez said growth was driven by the continuing promo and stock availability of vehicle models by member firms.

“November sales result is higher because of increased sales of major assemblers and distributors. Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models from other brands. We are confident that the year-end industry target will be met as we continue with competitive promotional support and marketing activities,” said Gutierrez.

Still leading for the top five performer for this month is Toyota Motors Philippines with a total market share of 43.82 percent followed by Mitsubishi with 17.55 percent. Ford Motors maintained its third spot with 8.42 percent. Fourth is Honda with 7.05 percent and completed by Isuzu with 6.91 percent.