The Philippine automotive industry remains on the growth path with car sales rising 33 percent since the start of the year.
"Sales continue to be sustained although October did show a slight drop of less than one percent," said Elizabeth Lee, president of the Chamber of Automotive Manufacturers in the Philippines (CAMPI). Lee is also the chief operating officer of Universal Motors, which distributes Nissan commercial vehicles.
CAMPI data shows the Philippine car industry sold 141,218 units from January to October, with sales led by the commercial segment, which includes sport-utility vehicles, pickup trucks and multipurpose vehicles. The commercial vehicle segment made up 65 percent of the industry's total sales, while the rest accounted for passenger cars.
"This year is an interesting year for the industry, with sales getting a boost, jumpstarted by elections coupled with the residual effects of Ondoy early on, robust OFW (overseas Filipino workers) remittances, aggressive financing packages, new models--many of which were launched during the Philippine International Motor Show, and continued consumer and business confidence for the year," Lee said.
Toyota continued to dominate the market with ten-month sales reaching 46,333 units, 27.4 percent higher than the carmaker's sales in the same period last year.
Data from the industry leader showed its three best-selling Toyotas from January to October were the Vios (12,536 units from January to October), Innova (10,272) and the Fortuner (6,140). Wondering how the Prius is doing? Toyota said a total of 21 environment-friendly motorists have bought the hybrid since the start of the year.
CAMPI is optimistic the industry will breach its 1996 sales record of 162,000 units.
"It's about time we surpassed that milestone," Lee said.
CAMPI has upgraded its 2010 forecast to reach at least 170,000 units from an initial estimate of only 137,000 units.
"A growth of 33 percent thus far is an achievement," Lee said. "However, we have yet to catch up with our ASEAN (Association of Southeast Asian Nations) neighbors who continue to gain significant domestic growth and expansion, allowing for a stronger integration in regional and global trade using local industries that include a healthy parts and components industry."
|Philippine car sales as of October 2010|
|YTD Ranking||Car company||January to October 2010||January to October 2009||October 2010||October 2009|
|1||Toyota Motor Philippines||46,633||36,593||5,352||4,586|
|2||Mitsubishi Motors Philippines||26,504||18,806||2,506||2,174|
|3||Hyundai Asia Resources||17,118||8,990||1,543||1,041|
|4||Honda Cars Philippines||14,208||14,534||1,140||1,440|
|6||Ford Motor Philippines (+ Mazda)||7,953||6,286||776||805|
|10||Nissan Motor Philippines||2,095||1,851||170||270|
|11||The Covenant Car Company||1,649||1,139||224||100|
|12||CATS Motors||779||Data unavailable||72||Data unavailable|
|17||Focus Ventures||183||Data unavailable||11||Data unavailable|
|Source: Joint report of the Chamber of Automotive Manufacturers in the Philippines, Inc. and the Truck Manufacturers Association|