Philippine car sales continues to register strong growth for the year, despite lackluster sales in August. According to a release from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), sales figures for the year stand at a 37% increase over 2009, equivalent to 112,454 units. August registered a -10.2% performance compared to July 2010.
Toyota maintains a dominant 32.5 percent share, followed by Mitsubishi (18.9%), Hyundai (12.2), Honda (10.5), and Isuzu (6.1). The figures only tally the sales of CAMPI and Truck Manufacturers Association (TMA). They do not count sales of brands like Subaru and the Chinese brands except for Chana/FAW.
The split between commercial vehicles (CVs) and passenger cars remains heavily in favor of CVs, with a 65.2% share.
CAMPI president Beth Lee explains: “Overall, vehicle sales for this year 2010 continue to largely outpace last year’s sales results drawing a stark difference in the rise in consumer and business confidence reflected in vehicle purchases. Rising confidence is further supported by the global recovery from the recent recession. Continued robust sales is seen in the coming months with the Chamber having to revise yet again, our target forecast for the year.”
The revised forecast will be shared in the next few days after further validation by each CAMPI member. “This year is looking to be the year that the local auto industry will surpass the highest sales ever attained in 1996 of over 162,000 units. “
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