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.
"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|
|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|