Business and Economy
2-month car sales up 17%
Combined sales of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) in the first two months of the year has increased by 17.4 percent compared to the same period in 2016. (Photo: CARS Philippines/Facebook)
MANILA—Combined sales of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) in the first two months of the year has increased by 17.4 percent compared to the same period in 2016.
Joint report of CAMPI and TMA on Thursday showed that car sales in January and February rose to 57,465 units this year, from 48,958 units in 2016.
Car sales in the said period was driven by strong demand for commercial vehicles growing by 22.5 percent, faster than sales growth of passenger cars at 8.9 percent.
Commercial vehicle sales in the first two months of 2017 reached 37,367 units compared to 30,507 units sold a year ago.
Light commercial vehicles segment shared highest number of sales at 23,365 units this year, an increase of 18.3 percent from 19,749 units in the same period in 2016.
This is followed by Asian utility vehicle with total sales of 11,751 units, growing by 27.7 percent from last year’s figure of 9,199 units.
Light trucks and trucks and buses categories four and five also improved their sales in January to February 2017 period.
Light trucks sales increased by 40.8 percent to 1,333 units, while trucks and buses categories four and five jumped by 90.5 percent to 602 units and 6.8 percent to 316 units, respectively.
On the other hand, sales of passenger cars reached 20,098 units this year, from 18,451 vehicles sold in 2016.
Meanwhile, vehicle sales for the month of February alone went up by 7.5 percent to 27,040 units this year, from 25,150 units last year.
“February 2017 sales growth was modest compared to the previous month. Despite supply limitations and fewer calendar days, the automotive industry still continue to serve and satisfy the demand of the market,” CAMPI President Rommel Gutierrez said.
Market leaders for the month of February were Toyota, Mitsubishi, Ford, Honda, and Isuzu. (PNA)
