Vehicle sales up 14.8% in 4 months

05/09/2008

Total auto sales in the first four months of the year soared to 39,981 units up by 14.8 percent from 34,827 units in the same period last year.

Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) president Elizabeth Lee said the auto industry registers yet another growth for the month of April with a year-to-date growth for the first four months, almost 15 percent compared to the same period last year selling 39,981 units of which 11,078 units were sold in April alone.

Month on month sales for April showed 4.3 percent, a respectable growth despite the rise in fuel prices. The Philippine market, generally characterized by a greater share of Commercial Vehicle (CV) sales continues to remain strong.

CVs continue to dominate the local market covering 66 percent of total vehicle sales nationwide.

CV sales as of April registered a robust 16-percent growth with a strong month on month sales of 7.4-percent increase for April sales versus March.

Lee said increase in CV sales is attributed to a sustained growth in the Light commercial vehicle segment which comprises of pickup trucks, vans and compact sports utility vehicles.

The auto industry thus far, is bucking the general trend seen in other countries such as the USA, where rising fuel prices in that country coupled with a softening economy resulted in a downward trend in US CV sales.

Passenger car (PC) sales for the month of April, meanwhile, declined slightly in April but overall, PCs still generated a growth, as well of 12.1 percent for the year so far. Auto players continue to support sales with dealer incentives promos to the benefit of buyers. Fleet accounts also factored in the sales for the month of April. The industry outlook continues to be positive for the year.

Cars year-to-date sales increased by 12.1 percent compared to the same period last year (Jan-April 2007). Compared to March 2008, the demand for PC for April 2008 decreased slightly by 1.4 percent.

Japanese auto maker Toyota dominates the market with 14,160 units; followed by Mitsubishi Motors Philippines with 5,345 units; dropping third from 2nd slot was Honda Cars, 5,269 units; next was Hyundai Asia, 3,325 units. Ayen Infante

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