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July 12, 2019

Philippine sales recovery strengthens in June

The Philippine new vehicle market picked up momentum in June 2019, with sales rising by 8.7% to 31,950 units from 29,395 units in the same month of last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).

By bcusack

The Philippine new vehicle market picked up momentum in June 2019, with sales rising by 8.7% to 31,950 units from 29,395 units in the same month of last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).

Passenger car sales rebounded strongly last month, by 22% to 9,532 units, after underperforming in previous months while commercial vehicle sales rose by just 3.9% to 22,418 units.

The data did not include non-affiliated brands such as Hyundai, Chevrolet and Subaru, which together accounted for around 12% of the total market last year.

Cumulative sales turned positive in June with deliveries to dealers rising by 1.5% to 174,135 units in the first half of 2019 from 171,635 units in the same period last year.

Passenger car sales declined by 6.4% at 52,418 units, while commercial vehicles sales rose by 5.3% to 121,717 units, helped by strong demand for pickup trucks and newly launched passenger utility vehicles (PUVs).

Toyota claimed a 42.2% market share in the first half, followed by Mitsubishi Motors with 17.9% and Nissan 12.1%.

CAMPI president Rommel Gutierrez was increasingly optimistic that full year 2019 sales would be higher than in the previous year, as the market continued to recover from 2018's excise tax increase.

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