Car sales grew double digits

Elizabeth Lee, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president, attributed the overall industry growth despite increases in global raw materials, logistics and oil to steady vehicle prices.

Passenger car sales enjoyed a 9.3-percent rise in sales at 17,173 units for the period compared with last year’s performance.

Lee said: “Continued overseas Filipino workers’ remittances, which factor in consumer spending, remain strong so far. Auto players remain upbeat with promotional offers available for buyers with a larger product line offering and more choices for the consumer.”

Commercial vehicles comprised the bulk of local assemblers’ sales at 66 percent, recording a 17-percent growth year-on-year and a 2-percent month-on-month decline.

Lee said the sales expansion was supported by light commercial vehicle segment, comprising pickups, vans, compact and full-size SUVs.

LCVs remain the strongest segment with a large 26.4-percent overall increase in sales for the first five months. New models in this segment also helped increase sales.

Asian utility vehicles posted a 1.5-percent decline at end-April due to unavailability of stocks, absence of promotions and low seasonality. Year-to-date sales, however, increased by 6.8 percent over the same period last year due to consumer preference for diesel-fed engines.

Light trucks year-to-date sales decreased by 1.7 percent compared with last year. Month-to-date sales registered a 23.9-percent decrease at end-April on year due to supply problems.

The Campi head said automakers remain positive on continued growth for overall vehicle sales.
— Lailany P. Gomez