New vehicle sales in the Philippines rebounded strongly in February, by 17% to 30,644 units from 26,176 units in the same month of last year, according to wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).
The data did not include non-affiliated brands, including Hyundai, Chevrolet and Subaru, which together accounted for around 12% of the total market last year.
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Passenger car sales jumped by close to 30% to 10,632 units last month from 8,192 units a year earlier and commercial vehicle sales were more than 11% higher at 20,012 units from 17,984 units.
Toyota sold 9,267 vehicles to claim a market share of over 30%; followed by Mitsubishi with 5,250 units (13.1%); Nissan 3,330 units (10.9%); and Honda 3,524 units (8.1%).
Sales last month rebounded from a 15% decline in January, resulting in a slight decline in the first two months of the year to 57,532 units from 57,821 units previously. The local automotive industry is looking for strong rebound this year from depressed levels last year, which it blames largely on higher taxes introduced at the beginning of 2018.
Separately, Hyundai's local distributor, Hyundai Asia Resources, reported an almost 39% sales increase to 3,715 units last month, resulting in year-to-date sales rising by over 16% to 6,537 units – reflecting the launch of new passenger car models.
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