Mitsubishi Philippines Posts Highest Monthly Sales

As the auto industry chalked up a strong performance in the first four months of 2010, Mitsubishi Motors Philippines Corp.achieved its highest monthly sales last April with 3,004 units. This volume is Mitsubishi’s highest after the Asian crisis of 1997. In addition, Mitsubishi’s April 2010 sales accounted for a significant increase of 59.4% compared to April 2009’s 1,885. From January to April, Mitsubishi said it has sold 10,188 units, for a 51% growth over the same period last year.

The Japanese-controlled carmaker attributed its growth to the aggressive financing terms banks/financial institutions gave even to entry level buyers, such as small to medium entrepreneurs and families of migrant workers.

All industry categories saw increased sales, with Mitsubishi passenger cars surging by 51.6% fueled by Lancer 1.6 and Lancer EX 2.0 models. Mitsubishi’s light commercial vehicles also increased by a 56.4% over last year’s level. Mitsubishi was able to achieve 19% market share and maintained its ranking as the 2nd best selling automotive brand in the Philippines.

A new vehicle line up also kept buyers coming in. The Montero Sport drew interest in the SUV segment. Sales of Montero Sport grew by 90% over last year’s level and continued to lead the SUV segment.

Manila Standard Today

Local Car Sales up 35.5% in First Quarter

Automotive sales grew by 35.5 percent in the first quarter of the year, with increases registered in all vehicle categories except light trucks.

The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) reported that in the January to March period, the industry sold a total of 38,709 vehicles, helped mainly by the new model introductions and aggressive financing packages offered by the brands.

In March alone, the industry sold 14,373 units, 33.8 percent higher compared with the same month in 2009.

“The strong first-quarter result augurs well for the whole auto industry. We will have to revise our original forecast upwards given the first-quarter trend. We are looking forward to continued strong sales in the coming months compared to the same period last year,” Elizabeth Lee, Campi president, said in a statement.

Campi originally set a 4-percent sales growth target for the year.

Passenger cars grew by 26.5 percent year-to-date, selling a total of 13,009 units.

On the other hand, the entire commercial-vehicles segment grew by a whopping 40.6 percent for the period with a total of 25,700 units. Read more

Local Auto Sector to Revise Upward Sales Forecast for 2010

After a good two months performance, the auto industry announced they will be revising upward their sales forecast for the year.

In an interview at the sidelines of the launch of the Nissan Murano, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president Elizabeth H. Lee said that the high remittance from overseas Filipino workers (OFW) will support the high vehicle sales.

“We are very bullish for the whole year,” Lee said.

According to Lee, they will revise the target upward. She said the final figure will be released after the first quarter.

Lee said they will look at the trends after March because the spending in the first three months may only be influenced by the national elections.

Meanwhile, Lee, who is also the vice president of Universal Motor Corp. announced the launch of the Murano Z51. The vehicle costs P3.1 million. Read more

CAMPI: Sales of New Commercial Vehicles Grow by 7.7% in 2009

Notorious for their tonnage and insatiable thirst for petrol, sport utility vehicles (SUVs) have never been the picture of efficient motoring, but with the Filipinos’ penchant for dual purpose vehicles—particularly after the high floods caused by tropical storm Ondoy last year—it seems that motorists are still giving these gas-guzzlers a second look.

Data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) show that sales of commercial vehicles–which include SUVs, Asian utility vehicles, pick-up trucks, vans and compact wagons–continued to surpass sales of passenger vehicles last year.

According to CAMPI, commercial vehicles grew by 7.7% to 86,216 units in 2009. Passenger cars or sedans, on the other hand, sold 46,228 units, rising slower at 4.1% from the previous year. Based on sales figures recorded particularly during the final months of 2009, more motorists may have replaced their damaged cars with taller vehicles, which have a better chance of wading through flood and mud. Read more

Philippine Car Sales in February Increases by 39%

Philippine car sales in February bucked seasonal trends as the industry sold 12,573 vehicles, 39 percent higher than what it sold in the same period last year, according to a joint report released Tuesday by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association of the Philippines (TMAP).

“We are thankful and are hopeful that the strong sales will continue in the coming months. The bulk of car sales came from commercial vehicles particularly the all utility vehicles (AUVs) and light commercial vehicles (LCVs),” CAMPI President Elizabeth Lee said in a statement.

“This trend is forecast to remain strong and will continue to support vehicle sales in the coming months,” she added.

Sales of commercial vehicles which include vans and pick-up trucks reached 8,069 units or 37.4 percent higher than what it sold in February 2009.

The passenger car (PC) segment also posted strong sales as dealers sold a total of 4,504 units in February. This is 42.8 percent higher than year-ago sales.

Toyota Motors Philippines Corp. led car manufacturers in terms of vehicle sales, selling 4,170 units during the period.

So far, the industry was able to sell a total of 24,336 units in January and February. This is 36.6 percent higher than the 17, 818 units sold by the industry in the same period last year.

Local Auto Sales Surge 33.8% in January 2010

The local auto industry reported a strong performance in January as sales went up by a strong 33.8 percent to 11,763 units from a year ago level.

The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) said the growth was backed by a strong dollar inflow from overseas Filipino worker (OFW) and an increase in domestic business activity.

“A high January sales volume augurs well for the year. It is a good start for stronger sales for 2010,” CAMPI president Elizabeth H. Lee said.

“ We are looking forward to a much stronger growth for this year with increased spending as a result of bullish OFW remittances which is projected to grow by eight percent or exceeding $18 billion; increased appetite for investment and business expansion; continued liquidity in the market; ease in taking out loans and availability of loans serving buyers needs; ….not to mention this being an election year as well,” Lee added.

However, month-on-month comparison showed a decline of 13.5 percent as sales for December 2009 stood at 13,596 units. In spite of this, Lee stressed that this will be a good year for the industry. Read more

Subaru Philippines Closes 2009 with 56 Percent Growth

Motor Image Pilipinas (MIP), the exclusive distributor of Subaru in the Philippines, announced it capped off 2009 with sales of 942 units, marking a 56-percent growth—the biggest in the local automotive industry based on figures released by the Chamber of he Automotive Manufacturers of the Philippines.

Subaru has been the fastest growing automotive brand in the country as it consistently increased sales every year since it opened in 2006, according to MIP.

In 2008, the company posted a 100-percent growth. Read more

Toyota Philippines Forecasts 8% Sales Growth in 2010

Toyota Motor Philippines (TMP) Corp. is eyeing a modest 8 percent increase in sales this year to 50,000 units from 46,193 units in 2009 on positive economic signs in the automotive market and the launch of new models this year including new hybrid cars to beef up its existing fleet.

Newly-appointed TMP President Michinobu Sugata told reporters during the company’s annual Media Thanksgiving Party on Friday of the encouraging positive signs of the local automotive market this year.

“There are many positive signs in the auto market,” said Sugata. Read more

Isuzu Philippines Maintains Truck Market Leadership in 2009

According to the combined official figures released by the Truck Manufacturers Association of the Philippines and the Chamber of Automotive Manufacturers of the Philippines, Inc., Isuzu trucks again outsold the competition in 2009, as it had the previous 11 straight years.

Last year, Isuzu’s N-Series light-duty trucks sold a total of 996 units, or 56.8 percent of Category 3 of the commercial vehicle segment. Isuzu’s medium-duty trucks, including the Forward, were just as dominant, selling 232 units for 57.9 percent of Category 4. Read more

Mitsubishi Philippines Banners 2009 with 33% Growth Industry Sales

The Philippine automotive industry defied threats of automotive slump due to global financial crisis as it registered a 6.4% growth in 2009. Total vehicle sales reached 132,444 units in 2009, exceeding the flat growth forecast for 2009 by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) or 125,000 units. In 2008, total vehicles sold were 124,449 units.

CAMPI and TMA credits this growth to the aggressiveness of automotive players in introducing new models and various promotion schemes as well as by banks/financial institutions to accept auto financing from loans especially from entry level buyers such as small to medium scale entrepreneurs and also Overseas Filipino Workers (OFWs). In addition, the strong typhoons Ondoy and Pepeng last October which brought heavy floods in Metro Manila and Luzon areas caused irreparable damaged to most vehicles, have partially contributed to the increase as it accelerated vehicle replacements especially in the last quarter. Read more

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