RP auto industry poised to hit record sales this year

Nine-month car sales growth hits 35.9 percent
by Anna Barbara L. Lorenzo | Oct 7, 2010

TopGear.com.ph Philippine Car News - Car Sales as of September 2010

It's bound to be the best year yet for the Philippine automotive industry as consistent strong demand for brand-new vehicles from January to September has kept carmakers on-track in posting a new record in car sales this year.

Strong sales have also prompted Chamber of Automotive Manufacturers in the Philippines (CAMPI) to upgrade the industry's sales forecast for a third time. The industry group now expects to close the year with sales reaching 170,000 to 175,000 units.

It may be recalled that CAMPI opened 2010 with a very conservative four-percent growth forecast with a target to sell 137,000 units. The target was revised in August to 165,000 units.

With the revised target, CAMPI is looking at breaking the sales record it posted in 1996 when the industry sold 162,000 brand-new cars.

September sales
Data from CAMPI and the Truck Manufacturers Association showed that sales from January to September stood at 126,901 units, 35.9 percent higher than the number of vehicles sold in the same months last year.

As much as 65 percent of the sales were commercial vehicles, while the rest are passenger cars. Both segments are dominated by Toyota Motor Philippines, which currently has a 32.5 percent market share in the country.

The Philippine car industry sold 14,447 units in September alone, representing a 27.8 percent growth over sales in the same month last year.

Last-quarter hurrah
At the rate the industry is going, CAMPI sees no reason for the market's appetite for new cars to dip in the last quarter of the year.

"Sales for the last quarter should remain healthy as consumer and business confidence remains steady," CAMPI president Elizabeth Lee said.

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She added that high remittances from overseas Filipino workers, the availability of cash and financing packages to consumers, and the variety of promos for acquiring a new car will continue to drive sales.

"We can expect sustained sales to cap off 2010 as a good year for auto sales," Lee said.

Philippine car sales as of September 2010
YTD ranking Car company January to September 2010 January to September 2009 September 2010 September 2009
1 Toyota Motor Philippines 41,281 32,007 4,687 3,931
2 Mitsubishi Motors Philippines 23,998 16,632 2,786 1,869
3 Hyundai Asia Resources 15,575 7,949 1,818 1,167
4 Honda Cars Philippines 13,068 13,094 1,292 1,535
5 Isuzu Philippines 7,803 6,248 896 736
6 Ford Motor Philippines (+Mazda) 7,177 5,481 866 689
7 Universal Motors 4,759 3,691 481 457
8 Columbian Autocar  4,423 2,510 468 264
9 Suzuki Philippines 2,818 1,805 335 176
10 Nissan Motor Philippines 1,925 1,581 210 250
11 The Covenant Car Co. 1,425 1,039 203 59
12 CATS Motors 707 Data unavailable 108 Data unavailable
13 Asian Carmakers 519 376 84 44
14 Pilipinas Hino 495 232 94 41
15 PGA Cars 365 211 50 23
16 Scandinavian Motors 212 197 20 20
17 Focus Ventures 172 Data unavailable 11 Data unavailable
18 Dreamco 120 99 24 14
19 MAN Automotive Concessionaires 57 12 14 5
20 Columbian Motors 2 221 0 24
Source: Joint report of the Chamber of Automotive Manufacturers in the Philippines, Inc. and the Truck Manufacturers Association 

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