The Philippine vehicle market hit a new record high in 2010, with sales rising by 28.5% to 170,216 units, according to data mostly released by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).
The data excludes sales of Subaru importer Motor Image Pilipinas, Volvo importer Scandinavian Motors and Chevrolet importer Covenant Car Company. The market has remained buoyant in the final months of 2010, despite a sharp drop in GDP growth resulting from a slowdown in agricultural and manufacturing output.
Toyota’s sales increased by 23% to 56,855 units in 2010, or 33.4% of the total market. Key models were the Innova MPV and the Vios compact sedan. Mitsubishi Motors’ sales increased by over 39% to 32,422 units; while third-placed Hyundai sold 22,728 units.
The CAMPI data will be even less complete in 2011, as it will exclude Hyundai as well as sales data from the three importers mentioned above.