Toyota has slipped in both markets as key MPV products begin to show their age though the Philippines vehicle market expanded by 12.5% year-on-year in May to 10,900 units, according to data released by the Chamber of Automotive Manufacturers of the Philippines (CAMPI).
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Growth was weaker than in previous months, with some manufacturers citing low stocks and seasonal factors such as a lack of promotional activity for the slow-down in the growth rate.
CAMPI president Elisabeth Lee reiterated the association’s full-year forecast of 125,000 units, however. In the first five months of the year, vehicle sales increased by 14.3% to 50,882 units, compared with 44,520 in the same period of 2007.
Sales of commercial vehicles, including the Toyota Innova and Avanza, outperformed during the five months with volumes rising by 17% to 33,709 – to account for exactly two-thirds of the market. Passenger car sales grew by 9.3% to 17,173 units during the same period.
Toyota kept its top position in January-May with sales rising by 4.4% to 18,206 units, but it inevitably lost market share. Mitsubishi outperformed with sales rising by 22.4% to 6,873 units and Isuzu reported a 14.5% sales increase to 4,298 units. The biggest gain was made by Hyundai, which saw sales volumes rise by 41% to 4,174 units. Honda saw its sales drop by 1.7% to 6,518 units.
Meanwhile, data released by PT Toyota Astra Motor also revealed continued growth in the Indonesian vehicle market in May. According to data compiled by the distributor, sales rose by 32.2% year-on-year to 50,699 units during the month, brining the cumulative five-month total to 237,941 units – 50.7% higher than the 157,892 units sold in the same period of 2007. Toyota sold 80,531 units, to claim a market share of 33.8%, compared with 35.3% in January-May 2007.
Tony Pugliese
