VEHICLE SALES continued to trend upward, according to a joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). Member companies recorded consolidated new vehicle sales of 38,177 units last month, or 44.8% more than the 26,370 mustered in May 2022. The year-to-date figure is 166,104 units — 31.5% more than the same month last year.
In a release, CAMPI President Atty. Rommel Gutierrez said that “the growth of new motor vehicle sales in May… is definitively driven by the high market demand, recording double-digit growth across all segments from the figures last year.”
Replying to a question from this writer, Atty. Gutierrez declared that CAMPI member companies might be able to realize growth of up to 25% this year, helped along by improving vehicle supply and new model introductions. He added that CAMPI is welcoming four new brands into the fold, along with the returning Ford marque.
When asked about what challenges remain for the industry, the executive averred that the microchip (or semiconductor) shortage remains a factor that can hamper the faster production of vehicles. “The problem has not been totally eliminated, so we expect difficulties there,” he told “Velocity.”
Once again leading the sales charge is Toyota Motor Philippines (TMP), which sold 17,866 units in May, up 26.5% versus 14,123 units in April this year. TMP cornered 46.8% of total sales. Compared to May 2022 (14,723 units), the company sold 21.3% more vehicles last month.
In second place is Mitsubishi Motors Philippines Corp. (MMPC), selling 6,822 units in May, up by 21.5% compared to its 5,613-unit performance last month. The company accounted for 17.87% of total sales, and its May number represents a hefty 132.1% growth versus the same month in 2022. Ford Motor Company Philippines (3,039) is in third, and cornered almost eight percent of sales while growing by 39.7% versus April, when it sold 2,176 vehicles. Nissan Philippines, Inc. (NPI) realized six percent of industry sales in May, when it sold 2,298 units — 8.7% up over April’s 2,114 units sold.
Honda Cars Philippines, Inc. (HCPI) completes the top five with 1,439 vehicles sold in May. It accounted for 3.8% of sales, and grew by 16% over its April figure of 1,240 units sold.
“The industry also welcomed the country’s sustained improvement in major economic sectors, which remain an important factor toward economic and market conditions that are favorable for the industry and consumers alike,” the CAMPI head added in a statement. “The steady year-on-year growth recorded in the first five months gives the industry a reason to be even more optimistic and grateful at the same time as attaining its growth forecast this year felt even closer to reality and proves rather possible.” — Kap Maceda Aguila
