Car sales up 20% in Jan

[karlbo]

Car sales up 20% in Jan
By Marianne V. Go
The Philippine Star 02/10/2006

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported yesterday that automotive sales for the first month of 2006 reached 7,739, posting a growth of 20 percent compared to sales of 6,456 units in January 2005.

Compared to sales in December 2005, however, the figure in January 2006 was down 14.6 percent as December is normally a high sales month while January is normally a slow month coming right after a high promo and year-end sales push in December.

CAMPI revealed that it was only in the last few days of January that sales started to pick up due to last minute purchases by buyers to beat the start of implementation of the additional two-percent EVAT.

January passenger car sales grew 17 percent to 3,110 units compared to sales of 2,664 units in January last year. CAMPI attributed the growth mainly to fleet accounts.

CAMPI expects passenger car sales this month to be about the same as in January.

Commercial vehicle sales for January increased 22.1 percent over the same period last year mainly due to the strong sales of Asian utility vehicle (AUV).

Sales of light commercial vehicles (LCVs) and new light trucks increased by 15 percent and 21 percent, respectively, with 2,474 LCVs and 127 light trucks sold in January.

Sales of LCVs and light trucks are expected to pick up in the next few months.

January AUV sales rose 32 percent with 1,988 units sold compared to January 2005’s AUV sales of 1,505 units.

The increase in AUV sales in the latter part of the January was also due to last minute buying and sustained demand for new models, and financing promos.

CAMPI and TMA had earlier projected a continued increase in automotive sales at the start of this year due to fleet accounts deliveries and possible spillover of advance purchase made last month in anticipation of the additional R-VAT implementation in February.

Total automotive sales for 2005 amounted to 97,063 units, surpassing the 95,000 target.

CAMPI and TMA said 2005 saw aggressive sales promotion and advertising expenses to sustain sales throughout the year.

Although sales grew, CAMPI and TMA admitted that competition remains stiff and margins slim.

Toyota Motor Philippines Corp. continues to hold on to the No. 1 spot in automotive sales with 2,742 units sold in January.

Toyota, thus, may be on its way to its fifth consecutive No. 1 car sales slot.

Mitsubishi Motors Philippines Corp. is still No. 2 while Honda Cars Philippines is at No. 3.

Isuzu Philippines Corp. was at No. 4 while Ford Motor Co. with its subsidiary Mazda was able to grab the No. 5 position.

[CVT]

Yes,- what a way to perk up the economy! The additional 2% EVAT which means more revenue for the government and more financial confidence in the Philippines, also meant more money circulating just before its implementation because of the last minute buying spree. Economics is indeed a strange monster....

Ang dami ngang bagong kotseng naglipana (walang plate number...)

[vinj]

I think a big factor here is a lot of people rushed their purchases to avoid the full VAT implementation come Feb...

My sis and bro used their office car plan to get a unit before Feb. I also almost got a new car but settled for 2nd hand instead para wala nang loan (live within your means 'ika nga).

[niky]

It remains to be seen what February and March sales are like. With the market default 1.6s priced in the high 700s (780 or so) to 800+ now, it'll definitely be harder for automakers to shift their non-luxury units.

[Kanut]

good start for the automotive industry but its too early to tell.

buyers might have rushed to beat the rvat implementation.

[bilog]

pansin ko lang dito sa lugar namin yung mga bumili ng bagong kotse eh yung mga may kamag anak na nasa abroad. specially those who work in italy. i do not know if it holds true in metro manila...

[oldblue]

Mitsu in #2? that's surprising ... anong model yun mabili?

[nugundam93]

probably the commercial vehicles :D

[niky]

L300. Hanggang ngayon... default school bus ng bayan.

[Tikoyman]

Congrats sa Toyota, the undisputed numero uno!

[empy]

gastahan ng year end bonus :bwahaha: