Local vehicle assemblers’ recovery in May appears to be holding as total sales of passenger cars and commercial vehicles continue to post growth in the first half of the year.
The latest joint report from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) showed local vehicle sales rose 1.46 percent year-on-year to 174,135 units compared to 171,635 units in the same period in 2018.
Total vehicle sales for the month of June grew 8.7 percent to 31,950 units in 2019, from 29,395 units in 2018, or a 3.1-percent growth from 30,998 units sold in May 2019.
“We remain very optimistic that the local auto industry is already on a path of steady growth after we conclude the first half of the year on a positive note,” said Rommel Gutierrez, president of Campi.
“The automotive brands’ collective efforts, highlighted by fleet sales, good financing deals, and model updates and upgrades, show that we have learned to adjust and adapt to market conditions, thus, helping consumers acquire new vehicles with fewer hurdles,” he added.
In the first semester, the sale of passenger cars still represented a contraction of 6.4 percent to 52,418 units, from 56,029 units sold in the first half of 2018.
However, the growth of total vehicle sales in June was driven by 9,532 passenger cars sold representing a year-on-year growth of 22 percent and 22,418 commercial vehicles which was 3.9-percent growth.
In the January-to-June period, the top vehicle brands that sold the most units were Toyota Motors Philippines Corp., Mitsubishi Motors Philippines Corp., Nissan Philippines Inc., Ford Motor Co. Phils. Inc., and Suzuki Phils. Inc.
For the month of June this year, Toyota, Mitsubishi, and Nissan are the three top sellers, retaining the positions they held in May. Other brands that made the top 5 were Ford and Honda Cars Philippines Inc.