Honda Cars Phils Reports Biggest Sales Drop
January 9, 2009 by Tsikot
The Philippine unit of Japan’s Honda Motor Co. Ltd. incurred the biggest sales drop last year among domestic carmakers, an industry report said.
Sales of Honda Cars Philippines Inc. plummeted by 17.4 percent to 14,298 last year from 17,320 in 2007, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association said in a joint report.
As a result, Honda, which used to be the Philippines’ second-largest carmaker, shed its market share to 12 percent from 15.
Meanwhile, Toyota Motor Philippines Inc. (TMPI), the country’s biggest car company, maintained its market lead, posting overall sales to 45,915 units from 45,091 units in 2007.
Toyota was trailed by Mitsubishi Motor Corp., which was able to sell 17,539 units, a 17 percent hike from last year’s figures.
Universal Motors Corp., which distributes Nissan vehicles, reported the highest sales increase, selling 4,789 units in 2008, up from the previous year’s 3,330 units.
Similarly, Suzuki Phils., Inc. said sales rose by three percent to 2,182 units in 2008 from 2,125 in 2007.
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