Business & Economy

Vehicle industry set record sales in April

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The Philippine automotive industry has set another record performance in April with vehicle sales hitting 27,697 units, up 30 percent from year-ago level.

This brought total vehicle sales in the first four months of the year to 104,176 units, reflecting growth of 23.8 percent, based on data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).

“April sales was beyond expectation compared to sales trend based on seasonality. Given that we offer attractive promotions and the arrival of new models, we project sustained growth in the second quarter,” said Campi president Rommel Gutierrez.

Based on the joint report of Campi and TMA, both the passenger car and commercial vehicle segments posted significant double-digit growths in the first four months. This was due mainly to the strong demand for new models supplemented by aggressive summer promotions and other marketing support.

Sales of passenger cars rose 19 percent to 39,716 units, while the commercial vehicle segment posted a 27-percent sales growth to 64,460 units in January to April.

In the commercial vehicle segment, all categories managed to surpass their previous sales records in April, data showed.

Data from Campi and TMA showed that Category 1 (Asia Utility Vehicles or AUV) saw a 28-percent rise with 4,720 units sold in April while Category 2 (Light Commercial Vehicles or LCV) posted a surge of 41 percent to 12,233 units. Category 3 (Light Trucks) recorded a 40-percent increase in sales with 466 units sold, while Category 4 and Category 5 (trucks and buses) saw growth of 13.1 percent and 148 percent, respectively.

Toyota Motor Philippines Corp. continued to dominate the Philippine automotive market as it accounted for 41.52 percent of the market. TMP was able to sell 43,249 units in the first four months of the year. – Amy R. Remo/Inquirer.net

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