According to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA), Philippines Automobile Sales experienced a 3.5 percent growth in 2019, selling nearly 370,000 units. Campi and TMA member-companies sold 369,941 units in 2019, an increase from 357.410 units in 2018.
The sale of commercial vehicles increased by five percent from 248,390 units in 2018 to 260,744 units in 2019, accounting for 70.5 percent of total sales. While sale of passenger cars grew 0.2 percent from 109,020 units in 2018 to 109,197 units in 2019.
Auto sales in December gave the final push, as data showed that 33,715 units were sold in the last month of 2019, up by 5.5 percent from the 31,945 units sold in the same month in 2018.
The report also showed that Toyota Motor Philippines Corp. (43.79 percent share) remained the market leader last year, followed by Mitsubishi Motors Philippines Corp. (17.32 percent share), and Nissan Philippines Inc. (11.54 percent share).
According to Campi President Rommel Gutierrez, the growth was a “welcome relief” for the industry. “The year 2019 has been challenging for the industry due to various internal and external factors. Thankfully the industry’s collective efforts, supported by sustained economic growth, have paid off,” Gutierrez said.
“We will not rest on our laurels as we aim for further growth in the coming months, and hopefully for the whole of 2020,” he added.
Check these articles out:
WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!