First Quarter Car Sales Up by 8.2%; Industry Says Supply Adequate
Vehicle sales grew by 8.2% in the first quarter, data released yesterday showed, with carmakers assuring that supply remained unaffected by last month’s disaster in Japan.
Sixteen car firms sold 36,293 units in the January-March period, up from 33,536 a year earlier, a report from the Chamber of Automotive Manufacturers Association of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association of the Philippines showed.
The sales tally will be higher if the “more than 5,000″ claim of Hyundai Asia Resources, Inc. — which bolted CAMPI earlier this year — is added.
Commercial vehicles such as vans and trucks accounted for 66% of the total, with sales up only 6.7% to 23, 867. Passenger car sales grew by 11.3% to 12,426 units during the period.
“So far, brand makes have ample supply from existing inventories to supply market demand,” the CAMPI said in a statement, addressing concerns that plant shutdowns in Japan would affect local sales.
“The effect of these on the Philippine local assembly is in the supply of parts which may either be part of the CKD pack or for regular parts purchases,” the association said.
Honda Cars Phils., Inc. earlier this week said it would cut output at its Sta. Rosa plant by 50% due to the lack of parts.
Toyota Motor Philippines Corp. led the pack for the period, growing its sales by 12.2% to 13,845 units.
Mitsubishi Motors Philippines Corp. was second with 8,143 sold, up 13.3%.
HARI President and CEO Ma. Fe Perez-Agudo, speaking to reporters at the launch of a new model, said: “We came out strong with sales of more than 5,000 for the first quarter of this year.”
The local Hyundai distributor sold 4,572 units during the same period last year.
Business World Online
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