PAFI: CBU Cars Sales Up, Outpaces those of Locally-Made Vehicles
Sales of imported cars outpaced those of locally produced vehicles as sales of completely built up (CBU) cars increased by 9.8 percent in the first quarter.
Data from the Philippine Automotive Federation Inc. (PAFI) showed that for January to March, CBU imports stood at 18,629 units, a 9.8 percent growth from 16,962 units recorded in the same period last year.
PAFI data showed that while total industry sales grew by 8.2 percent, the imported CBU sales portion went up by 9.8 percent as compared to sales out of CKD production which increased by only 6.6 percent.
On the other hand, PAFI secretary general Frank Nacua said the share of CBU imports increased to 51.3 percent versus its share of 50.6 percent during the same period last year.
In terms of vehicle volume, Thailand continued to dominate CBU imports, with shipments totaling 12,488 from 10,984 units last year for a double-digit growth rate of 13.7 percent.
Percentage-wise Japan and Europe showed dramatic increases of 58.4 percent and 12.3 percent, respectively.
“Looking forward, the sales for the second quarter may show significant changes in data depending on the effects of the Japan tsunami event last March 11 and perhaps, the final approval and release of the long delayed IRR of EO 877-A as this will certainly usher in the dawn of a new era in the Philippine automotive industry landscape,” Nacua said.
Earlier, CAMPI said sales of the local auto industry grew by 8.2 percent in the first three months of the year. The industry sold a total of 36,293 units for the first quarter of which 13,775 units were sold in March alone. Passenger cars grew by 11.3 percent to 12,426 units while commercial vehicles (CV) grew by 6.7 percent for the first quarter selling 23,867 units nationwide.
Philippine Star Online
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