Vehicle sales expand 26% in November, near 2015 target

MANILA, Philippines - Vehicle makers are inching closer to their year-end growth target as sales improved nearly a quarter in the 11 months to November on the back of robust demand for both passenger cars and commercial vehicles.

A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Trucks Manufacturers Association (TMA) yesterday showed vehicle sales surged 23 percent in the January to November period this year to 261,930 units compared to 213,427 units sold in the same period last year.

Sales for the month of November alone rose 25.9 percent to 26,979 units from 21,422 units in the same month for 2014.

“With another impressive growth in November 2015, we are most likely to achieve our target of 310,000 units for the year,” CAMPI president Rommel Gutierrez said.

CAMPI and TMA said the number of passenger cars sold in November reached 10,649 units, 32.5 percent higher than the previous year’s 8,040 units.

Commercial vehicles sales likewise increased 22 percent to 16,330 units from 13,382 units sold in November 2014.

Toyota Motor Philippines Corp. continued to dominate the country’s automotive industry with a 43.9 percent market share, followed by Mitsubishi Motors Philippines Corp. which remains strong despite its ongoing Montero controversy with an 18.5 percent share.

Ford Motor Co. ranked third with an 11 percent share, while Isuzu Philippines Corp. and Honda Cars Philippines placed fourth and fifth with market shares of seven percent and 5.8 percent, respectively.