Vehicle sales grew to its highest for the year in November, bringing year-to-date sales up by 3 percent to 336,226 units from 325,569 units in January to November 2018.
A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) showed November sales grew 10 percent 34,465 units from 31,258 units in the same month last year , but are flat compared from October 2019’s 34,397 units.
Rommel Gutierrez, CAMPI president, in a statement said the 0.2 percent increase compared to October 2019 sales figures is still a positive sign of a continuous sustained demand.
The November sales performance is also the second successive month that CAMPI and TMA posted record-breaking sales further reinforcing the upward trend the automotive industry is tracking towards the end of the year.
Gutierrez said market demand for this month is expected to remain robust, aided by continuous sales promotions and sustained positive economic outlook as we end the year.
Historically, December is the month where the industry experiences exponential growth.
“We are continuously working double time to achieve the industry’s overall sales target of 410,000 units which we believe remains achievable,” Gutierrez said.
The market share of CAMPI-TMA to the overall sales target is at 89 percent, while the importers group accounts for 11 percent.
Toyota Motor Philippines Corp. maintained its lead with sales of 146,145 units, up 5.5 percent from 138,476 units last year and a market share of 43 percent.
Mitsubishi Motor Philippines Corp. was at far second with sales of 58,057 units, down 6.4 percent from 62.013 units last year.
Nissan Philippines Inc. rounded up the top three, selling 39,945 units, , up 26 percent from 31,663 units in 2018/.