Car sales in the Philippines continued to rise with more Pinoys opting to buy new vehicles, particularly those which serve dual or even multiple purposes, as the economy improves.
A joint report from the Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association said a total of 98,119 vehicles were sold from January to July, 37.2 percent higher than the number of units sold in the same period last year. In July alone, 15,972 cars were sold, reflecting a 37.7 percent increase in car sales for the month. CAMPI data does not include sales of non-members like Motor Image Pilipinas (Subaru), and Chinese brands like Foton, Great Wall and Lifan.
"Auto sales growth is positively correlated to the growth of the economy," CAMPI president Elizabeth Lee said. "The continued robust vehicle sales reflect stronger consumer and business confidence, which in turn results in enterprise growth that benefits vehicle sales."
Sales were also boosted by the continued growth of disposable income from Filipinos working overseas, aggressive financial packages offered by banks, the availability of supply to meet the growing demands of the market, and the introduction of new models in the country.
Sale of passenger cars jumped 34.7 percent while commercial vehicle sales surged 38.6 percent with growth mainly on light commercial vehicles like sport-utility vehicles, pickup trucks and vans. CAMPI said this reflects the Filipino market's preference for dual-purpose vehicles as many families are also going into business.
Toyota continued to dominate the industry with a total of 31,745 units sold from January to July, up 29.3 percent from last year's sales in the same months. It is followed by Mitsubishi with 18,504 units (up 42.8 percent) and Hyundai with 11,836 units (up 104.5 percent).
|Philippine car sales as of July 2010|
|YTD Ranking||Car company||January to July 2010||January to July 2009||July 2010||Jully 2009|
|1||Toyota Motor Philippines Corp.||31,745||24,546||5,252||3,778|
|2||Mitsubishi Motors Philippines Corp.||18,504||12,959||2,851||2,305|
|3||Hyundai Asia Resources, Inc.||11,836||5,789||2,002||887|
|4||Honda Cars Philippines, Inc.||10,612||10,191||1,672||1,508|
|5||Isuzu Philippines Corp.||6,045||4,750||1,042||822|
|6||Ford Motor Co. Philippines, Inc. (+Mazda)||5,467||4,108||905||726|
|7||Universal Motors Corp.||3,754||2,808||562||450|
|8||Columbian Autocar Corp.||3,503||1,919||709||323|
|9||Suzuki Philippines, Inc.||2,175||1,401||300||272|
|10||Nissan Motor Philippines Corp.||1,513||1,116||217||203|
|11||The Covenant Car Company, Inc.||1,051||891||151||112|
|12||CATS Motors||519||Data unavailable||80||Data unavailable|
|13||Asian Carmakers Corp.||366||296||89||52|
|14||Pilipinas Hino, Inc.||301||161||40||44|
|15||PGA Cars, Inc.||274||171||46||27|
|16||Scandinavian Motors Corp.||172||155||22||23|
|17||Focus Ventures, Inc.||155||Data unavailable||13||Data unavailable|
|19||MAN Automotive Concessionaires Corp.||36||7||0||2|
|20||Columbian Motors Corp.||2||157||0||30|