Vehicles sold by members of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) grew 3.5 percent in 2019, off its 10-percent growth target for the year.
In their joint report, Campi and TMA said vehicle sales reached 369,941 units, recovering from a 16 percent decline in 2018 when sales stood at 357,410 units from 425,673 in 2017, a record year.
Rommel Gutierrez, Campi president, said ending 2019 with positive figures is a welcome relief for the industry coming from a double-digit decline the previous year.
“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. We will not rest on our laurels as we aim for further
growth in the coming months, and hopefully for the whole of 2020,” Gutierrez said in a statement.
In 2019, passenger car sales were flat at 109,197 units and accounted for 30 percent of total sales. Sales of commercial vehicles meanwhile rose 5 percent to 260,744 units from 248,390 units in 2018.
Full-year growth was tempered by the 2 percent decline registered in December when sales stood at 33,715 units from 34,465 units in November.
This is, however, 5 percent higher than the 31,945 units sold in December of 2018.
Leading in both passenger cars and in commercial vehicles, Toyota Motor Philippines Corp. (TMP) continued to eclipse all assemblers with 162,011 units sold for the year.
TMP also bucked industry trend with a growth of 11 percent from 153, 004 units sold in 2018 but retaining its market share of 43 percent.
TMP sold 53,782 units of passenger cars, up 7.6 percent and 106,229 units of commercial vehicles, an increase of 5 percent.
Mitsubishi Motor Philippines Corp. was at second with 64,065 units sold, a 17 percent market share but 5 percent down from 67,512 units the previous year.
Nissan Philippines Inc. rounded up the top three with 42,694 units sold, an increase of 22 percent from 34,952 units amd a ,arket share of 11 percent.