AUTO INDUSTRY NEWS

September 2018 Philippine auto sales remain positive despite inflation

September 2018 Philippine auto sales remain positive despite inflation image

Brent Co / Chokdee.info | October 12, 2018 09:00

September CAMPI sales advance 2.52% month on month

Amidst continuing inflation woes, Philippine auto sales managed a 2.52% increase in September, month-on-month, sustaining gains from August. The latest consolidated report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed a 31,116 unit sales total for the month. 

Sales continue to be fueled by aggressive promos by brands and dealers. New model launches and stock arrivals have also contributed to the positive movement in passenger car and light commercial vehicle segments.

Compared to the previous year, September 2018 sales were still 9.7% down from last year’s 34,445 unit total. Total industry volume for the first eight months of the year is still down by 13.8% compared to the same period last year.

Passenger Car sales continued on with its momentum with a 8.8% gain totaling 9,441 units, covering 30.34% of the market. Commercial Vehicles sold nearly flat with a 0.2% gain totaling 21,675 units, representing the bulk of the market with 69.66%.

Light Commercial Vehicles (LCV) such as vans, pickups, and SUVs led the CV subsegments, comprising 81.32% of CV sales with 17,626 units sold; moving 1.6% more than last month's 17,354 total. The AUV/MPV segment, on the other hand, sold 2,926 units, down by 1.8% from 2,981. Truck and bus sales were mostly down as light truck sales slid 16.6% for a total of 571 units compared to the previous month's 685 units. Category 4 Heavy Duty Truck and Bus sales totaled 421 units (-7.7%) compared to last month's 456 units. Category 5 Heavy Duty Truck and Bus sold 131 units, (-17.6%) compared to last month's 159 units.

"New models that are currently available in the market continue to drive this sales growth for two consecutive months. We remain optimistic that this trend will be sustained before the year ends, as we expect boost in sales from the upcoming 7thPhilippine International Motor Show this month and the Christmas season," said Atty. Rommel Gutierrez, CAMPI president.

In the premium segment, Mercedes-Benz (ANG) continues to lead monthly sales with 53 units sold, Lexus (LMI) came in very close at second with 51 units, BMW (SMC-ACDC) follows in third with 37 units, and Jaguar-Land Rover (CMC) with 7 units in fourth.

Sales performances were positive for most brands. The top 3 advancers*: Volkswagen (ACEI) saw an increase of 21.7% following the introduction of more affordable China-made models, Honda (HCPI) gained by 16.9% and Mitsubishi (MMPC) sales went up by 15.6% with the arrival of new stocks of CBU models.

However, those who didn't fare well saw sharp downtrends. Top three decliners* were Kia (CAC) with a 33.3% drop, Nissan (NPI) saw their first decline of the year at 13%, and Foton (FMPI) sales declined by 8.8%.

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

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

1. Toyota – 12,686 units (40.77% market share)

2. Mitsubishi – 6,305 units (20.26% market share)

3. Nissan – 3,916 units (12.59% market share)

4. Honda – 1,970 units (6.33% market share)

5. Ford – 1,725 units (5.54% market share)

In year-to-date sales, Toyota Motor Philippines Corporation continues its commanding lead in the market with 41.91-percent. Mitsubishi Motors Philippines Corporation follows in second with 19.38-percent. Nissan further improves on its third position standing with 9.39-percent. Ford remains in fourth with 6.94-percent and Honda Cars Philippines, Inc. rounds up the top five with 6.67-percent.