Auto Sales Dip Slightly in January
Local car manufacturers are starting to feel the pinch of the economic crunch with a slight drop in auto sales in January.
According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the industry sold only 8,791 units last month, 0.19 percent lower than the 8,808 units sold in January 2008.
Month-on-month data showed that the January 2009 car sales dropped by a double-digit rate of 11.06 percent against 9,885 units sold in December 2008.CAMPI president Elizabeth H. Lee said January is traditionally a slow month for car sales as consumers cut down on their expenditures after a usually massive spending during Christmas.
Considering the rate at which the car industry contracted last month, Lee said the Philippine market is still better off.
“First month performance is still relatively better compared to other markets where January 2009 sales tumbled 37 percent year on year in the US as China, for the first time in history, now takes the lead overtaking what used to be the largest car market in the world,” Lee said.
Sales of passenger cars went up by 14.2 percent in January from a year-ago level. The segment was led by Honda Cars Philippines Inc., which sold 1,278 units; closely followed by Toyota Motor Philippines Corp., which sold 1,273 units.
Commercial vehicles, however, continue to dominate total sales with 5,407 units sold in January.
“Sales are expected to be sustained in the coming months although an increase in prices may be seen should the year continue to remain strong against the greenback,” Lee said.
Toyota led the segment with sales reaching 1,930 units, followed by Mitsubishi Motors Philippines Corp., which sold 1,390 units.
“Commercial vehicle sales are expected to pick up in the coming months as fleet sales are realized, stocks normalize. Demand for dual purpose vehicles such as vans and pickups will continue and sales of AUVs (Asian Utility Vehicles) will stabilize as well,” Lee said.
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