VEHICLE sales after 11 months slumped 14.4 percent, with all segments registering double-digit declines in November, according to data from the Chamber of Automotive Manufacturers of the Philippines (Campi) and Truck Manufacturers Association (TMA).
A joint Campi-TMA report showed total industry sales from January to November slowed 14.4 percent to 325,465 units, from 380,179 units during the same period last year.
Year-to-date sales of local car firms were further worsened by double-digit declines in November. Total sales during the month was down 23.4 percent to 31,258 units from last year’s 40,799 units.
Passenger car sales in November contracted 22.7 percent to 9,197 units from 11,901 units during the same month last year. Sales of commercial vehicle and Asian utility vehicles also fell 23.7 percent and 54 percent, respectively.
Local vehicle manufacturers were able to sell 17,594 light commercial vehicles in November, 13.5 percent fewer than last year’s 20,329 units. Light trucks, as well as trucks and buses, recorded double-digit sales declines, too.
In spite of the sales slowdown, Campi President Rommel R. Gutierrez said “we remain confident that the industry will continue to recover as the year ends.”
Toyota Motor Philippines Corp. remained to be the market leader with a share of 42.5 percent. It is trailed by Mitsubishi Motor Philippines Corp. with 19 percent, Nissan Philippines Inc. with 9.7 percent, Ford Motor Co. Philippines Inc. with 6.6 percent and Honda Cars Philippines Inc. with 6.5 percent.
Image credits: Nonie Reyes