New vehicle sales in the Philippines fell by 21.7% to 11,351 units in August, compared with 14,503 units a year earlier, according to member data released by the Chamber of Automotive Manufacturers of the Philippines Inc.
Of these, 7,860 were commercial vehicle sales, including utility vehicles, and 3,491 were passenger cars.
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The CAMPI data represents close to 80% of the total market, with key brands such as Hyundai, Chevrolet and Subaru not included in its monthly report.
The association attributes the weaker August sales to heavy floods in the Manila area due to unusually heavy monsoon rains, which reduced the number of working days in the month.
Cumulative sales for the eight month period were up by 6% to 98,725 units, compared with 93,108 units in the same period last year. Underlying demand remains strong, however, helped by new models and strong economic growth.
Separately, Hyundai’s local distributor reported an 18.6% sales increase for the eight-month period to 15,735 units, from 13,271 units a year earlier.
CAMPI’s President Rommel Gutierrez remains optimistic that the association’s market forecast of 185,000 units will be reached.
