Philippine pre-election car sales up 42.7%

Appetite for brand-new vehicles surge
May 10, 2010

Car sales in the Philippines continued to rise in April following the launch of new models in the local market and due to improved business climate in the past few months.

Data from the Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) showed car sales climbed to 14,254 units last month, 42.7 percent higher than the number of cars sold in April 2009. Total cars sold from January to April stood at 52,963, 37.4 percent more than the units sold in the same period last year.

"Strong growth thus far has been supported by the slew of new model introductions by auto players coupled with aggressive financing packages available making the purchase of vehicles more accessible and affordable for a larger group of consumers," CAMPI president Elizabeth Lee said.

Lee attributed the consistent double-digit growth in industry sales to improved consumer and business confidence, availability of disposable income particularly from overseas Filipino workers and the accessibility of financing options for car buyers. She added that the "manageable inflation rate" at 3.5 to 5.5 percent according to the Central Bank is also helping keep brand-new vehicles affordable to buyers.

Commercial vehicle sales surged 42.4 percent to 35,296 units from January to April versus the same period last year while passenger car sales were up 28.4 percent to 17,667.

Toyota Motor Philippines continued to dominate both the passenger car and commercial vehicle segments of the market, selling a total of 16,571 units to date.

CAMPI has yet to officially revise its growth forecast for the year despite car sales rising more than 30 percent since the start of 2010. The industry group initially pegged 2010 growth at a conservative rate of four percent.

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"Expectations remain positive. We plan to adjust our forecast for the year accordingly, after the May elections," Lee said.

 

Philippine car sales as of April 2010
YTD ranking Car company January to April 2010 January to April 2009 April2010 April 2009
13 Asian Carmakers Corp. (BMW) 191 168 56 51
12 CATS Motors 253 Data unavailable 48 Data unavailable
8 Columbian Autocar Corp. (Kia) 1,879 1,058 445 183
20 Columbian Motors Corp. 2 75 2 29
18 Dreamco 55 18 11 10
16 Focus Ventures, Inc.  124 Data unavailable 22 Data unavailable
6 Ford Motor Co. Philippines, Inc. (+ Mazda) 2,949 2,104 1,023 1,366
11 The Covenant Car Company (Chevrolet) 580 513 155 115
4 Honda Cars Philippines, Inc.  5,890 5,876 1,390 1,366
3 Hyundai Asia Resources, Inc.  6,251 3,118 1,679 912
5 Isuzu Philippines Corp.  3,336 2,551 931 655
19 MAN Automotive Concessionaires Corp.  36 4 0 0
2 Mitsubishi Motors Philippines Corp.  10,188 6,745 3,004 1,885
10 Nissan Motor Philippines, Inc.  873 543 180 150
15 PGA Cars, Inc. (Porsche + Audi) 147 99 44 29
14 Pilipinas Hino, Inc.  168 71 39 19
17 Scandinavian Motors Corp. (Volvo) 98 81 24 19
9 Suzuki Philippines, Inc.  1,266 673 317 178
1 Toyota Motor Philippines Corp.  16,571 13,301 4,230 3,529
7 Universal Motors Corp. 2,106 1,553 654 357
  Total cars sold 52,963 38,551 14,254 9,988
Data source: Joint CAMPI and Truck Manufacturers Association sales report

 

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