Local Motor Vehicle Sales Up 18.7% on Launch of New Models

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Inquirer.net

Motor vehicle sales rose 18.7 percent year-on-year in the first quarter with an upbeat pre-Holy Week turnover and sustained buyer interest in new models, industry groups said.

Total sales reached 26,201 units from 22,065 in the first quarter of last year, the Chamber of Automotive Manufacturers Association of the Philippines and the Truck Manufacturers Association said in a joint report.

That volume is 25.4 percent of the industry’s full-year target of 103,000 units.

Sales of commercial vehicles grew 24.1 percent and sales of passenger cars rose 9.9 percent, the report said.

In March, “purchases with better market response to promotions also helped boost sales for the month,” it added.

Commercial vehicles, which include Asian utility vehicles (AUVs), light commercial vehicles, light trucks, and trucks and buses, accounted for 65 percent of total sales.

Sales of AUVs rose 31.8 percent to 7,356 units and of light commercial vehicles — pickups, vans, compact sports utility vehicles — went up 17.5 percent to 9,001 units.

Sales of commercial vehicles grew 24.1 percent and sales of passenger cars rose 9.9 percent, the report said.

In March, “purchases with better market response to promotions also helped boost sales for the month,” it added.

Commercial vehicles, which include Asian utility vehicles (AUVs), light commercial vehicles, light trucks, and trucks and buses, accounted for 65 percent of total sales.

Sales of AUVs rose 31.8 percent to 7,356 units and of light commercial vehicles — pickups, vans, compact sports utility vehicles — went up 17.5 percent to 9,001 units.

Sales of light trucks reached 455 units, up 25.3 percent, and sales of truck and buses jumped to 224 units, up 86.7 percent.

Turnover of passenger cars rose to 9,165 units with the introduction of new models, dealer incentives, and marketing promotions.

Toyota Motor Philippines Corp. remained as sales leader with 39.2 percent of the market. It sold 10,264 units in the first quarter, up 16 percent year-on-year.

Honda Cars Philippines Inc. moved up to second place with 15.3 percent of the market, with sales reaching 3,999 units, up 45 percent.

Mitsubishi Motors Philippines Corp. dropped to third place with 12.3 percent of the market, selling 3,214 units, up 21.4 percent.

Toyota also cornered 41 percent of the commercial vehicles market, while Mitsubishi took 17.2 percent.

Toyota was also the top seller of cars with a market share of 35.8 percent. Honda had 34 percent and Ford Motor Co. Philippines Inc. had 8.6 percent. Ronnel W. Domingo, with INQUIRER.net

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