Car sales jump by 3.5% in 2019
Credit to Author: Anna Leah E. Gonzales| Date: Tue, 14 Jan 2020 16:22:44 +0000
AUTOMOBILE sales increased by 3.5 percent last year, data from the Chamber of Automotive Manufacturers of the Philippines (Campi) and the Truck Manufacturers Association (TMA) showed on Tuesday, with one official attributing the growth to “collective efforts” in the sector.
In a joint report, Campi and TMA said the number of vehicles sold in 2019 grew to 369,941 units from 357,410 the year before.
Sales of commercial vehicles (CVs) rose by 5 percent to 260,744 units from 248,390 a year earlier. The segment accounted for 70.5 percent of total sales.
Sales of passenger cars (PCs), meanwhile, inched up by 0.2 percent to 109,197 units last year from 109,020 in 2018.
According to Campi President Rommel Gutierrez, the growth was a “welcome relief” for the industry.
“The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully the industry’s collective efforts, supported by sustained economic growth, have paid off,” Gutierrez said.
“We will not rest on our laurels as we aim for further growth in the coming months, and hopefully for the whole of 2020,” he added.
The report also showed that Toyota Motor Philippines Corp. remained the market leader last year with a 43.79-percent share. It sold 162,011 units, up 5.9 percent from 153,004 in 2018.
Mitsubishi Motors Philippines Corp. placed second with a 17.32-percent market share. It sold 64,065 units, down 5.1 percent from 67,512.
Nissan Philippines Inc. came third with a 11.54-percent share. It sold 42,694 units, a 22.2-percent increase from 34,952 in 2018.
For December alone, the number of automobiles sold increased by 5.5 percent to 33,715 from 31,945 a year earlier.
Sales in the PC segment declined by 0.6 percent to 9,246 units in the month, while those in the CV segment climbed by 8.1 percent to 24,469 units.
Gutierrez said the automotive industry was optimistic to reach its overall sales target of 410,000 units for 2019.
The market share of Campi-TMA to the overall sales target is 89 percent, while the Association of Vehicle Importers and Distributors Inc. accounts for the remaining 11 percent.