AUTO INDUSTRY NEWS

Auto sales rebound in May 2018 driven by strong commercial vehicle demand

Auto sales rebound in May 2018 driven by strong commercial vehicle demand image

Brent Co / Chokdee.info | June 14, 2018 17:14

CAMPI, TMA members log 30,620 units sold in May, gaining 19.7% against previous month

New model arrival and stock replenishments have driven auto sales in the latest report from Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), showed a 19.7% increase in May 2018 with 30,620 units sold, compared to the previous month's 25,583 unit sales total.

Sales were in positive territory for most segments, but the industry reported an overall decline of 13.7% compared to the previous year's 35,469 unit total.

Pulling the market ahead was the Commercial Vehicle segment with a 35.4% surge as the Passenger Car segment reflected a 5.1% decline.

Passenger car (PC) sales totaled 9,401 units, covering 30.7% of the market. Commercial vehicles (CV) still covered most of the market at 21,219 units or 69.3% of the market.

With the arrival of recently launched models, continued stock arrival of sought after models, and the Philippine International Motor Show slated for late October this year, CAMPI is expecting flat growth for the year, despite the slight hiccups.

Light Commercial Vehicles (LCV) led the CV subsegments, comprising 71.14% of CV sales with 15,095 units sold; 36.7% more than last month's 11,045 total. The AUV/MPV segment on the other hand sold 4,606 units, up 33.9% from 3,489. Truck and bus sales were mostly green although light truck sales surged by 31%, selling a total of 760 units compared to previous month's 580 unit total. On the other hand, Category 4 Heavy Duty Truck and Bus sales totaled 485 units (+11.2%) compared to last month's 436 units. Category 5 Heavy Duty Truck and Bus sold a flat 273 units, (+57.8%) compared to last month's 173 units.

Sales performance were mostly positive for most brands. The top 3 advancers*: Mitsubishi (MMPC) sales went up by 90.5%; Isuzu (IPC) increased sales by 51.2%; Nissan (NPI) increased by 26.1%. Top three decliners* were Volkswagen (ACEI) with a huge 47.2% drop; Foton (FMPI) with a 10.2% decline; and Honda (HCPI) with a 4.8% downtrend.

*only brands selling more than 100 units per month were included.

The top five performing manufacturers for the month of May are:

1. Toyota – 14,426 units (47.11% market share)

2. Mitsubishi – 4,811 units (15.71% market share)

3. Nissan – 2,615 units (8.54% market share)

4. Ford – 2,110 units (6.89% market share)

5. Honda – 1,842 units (6.02% market share)

Toyota Motor Philippines Corporation continues its commanding lead of the market with 43.4-percent. Mitsubishi Motors Philippines Corporation follows in second with 18.9-percent. Nissan makes a big advance from fifth to third with 7.36-percent. Ford slides down to fourth with 7.31-percent and Honda Cars Philippines, Inc. rounds up the top five with 7-percent.