Car sales stronger in June – Campi, TMA
Credit to Author: TYRONE JASPER C. PIAD| Date: Thu, 11 Jul 2019 16:20:42 +0000
AFTER posting nearly flat growth in the last few months, automobile sales increased in June by 8.7 percent and 3.07 percent from figures posted a year and a month earlier, respectively.
In a joint report on Thursday, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) said car companies sold 31,950 units in June, higher than 29,395 in the same month last year.
Last month’s figure also improved on the 30,988 units sold in May, when the growth was only 1.23 percent.
The bulk or 70.17 percent of total sales came from the commercial vehicle (CV) segment, which sold 22,418 units in June, a 3.9-percent jump from last year’s 21,584 and a 2.2-percent climb from May’s 21,945.
The passenger car (PC) segment, meanwhile, saw sales grow by 22 percent to 9,532 units in the month from 7,811 in June 2018 and by 5.29 percent from 9,053 the month before.
Toyota Motors Philippines Corp., which captured 45.60 percent of the industry pie, saw its sales rise by 27.8 percent to 14,568 units from the year-ago’s 11,403.
Mitsubishi Motors Philippines Corp. and Nissan Philippines Inc. followed with 5,315 and 3,872 units sold, respectively.
“We remain very optimistic that the local auto industry is already on a path of steady growth after we conclude the first half of the year on a positive note,” Campi President Rommel Gutierrez said in a statement.
“The automotive brands’ collective efforts, highlighted by fleet sales, good financing deals, and model updates and upgrades show that we have learned to adjust and adapt to market conditions thus helping consumers acquire new vehicles with fewer hurdles,” he added.
Year-to-date, automakers sold 174,135 units, a 1.46-percent improvement from 171,635 in January to June 2018.
The CV segment saw its sales increase by 5.3 percent to 121,717 units in the first half of the 2019 from 115,606 in the same period last year.
Sales in the PC segment, meanwhile, decreased by 6.4 percent to 52,418 units in the first six months from 56,029 the year before.
Toyota did better than its competitors in the period, selling 73,454 units, compared with last year’s 73,136 units.
The post Car sales stronger in June – Campi, TMA appeared first on The Manila Times Online.