Philippine new vehicle sales got off to another slow start this year with volumes dropping by 4.5% in the first two months to 13,332 units, according to figures released by the Chamber of Automotive Manufacturers of the Philippines (Campi). The slide comes on the heels of a sluggish market performance in 2004 and contrasts sharply with the record highs seen elsewhere in the region.

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Sales in Thailand, Indonesia and Malaysia last year were way ahead of their pre- 1997-98 crisis highs and most in the industry expect growth to continue. On the other hand, sales in the Philippines fell by 4.8% to 88,075 units in 2004. Despite acceleration in economic activity in the second half of the year, new vehicle market remains stubbornly stagnant.


The government’s failure to control used imports is seen as a major factor. Figures released by the Land Transportation Organisation this month show that first time registrations of used cars rose sharply in 2004 – by 10% to over 116,000 units. While this points to strengthening underlying demand for affordable vehicles in this market, it also means added pressure for the domestic assembly industry. The Japan International Co-operation Agency calculates that used imports cost around 20,000 units in lost new vehicle sales.


In the new vehicle market, Toyota remains head and shoulders above the pack. It accounts for almost a third of overall volumes and 47% of passenger car sales. This is probably its highest share of any passenger car market in the world. The Vios has proved particularly popular and the launch of the new Innova MPV in February will only strengthen its hand.


Tony Pugliese


 

























































New vehicle sales in the Philippines by make, 2003-05
Jan-Dec
Jan-Dec
Jan-Feb

2003

2004

2005

 Toyota

27,821
29,198
4,349

 Mitsubishi

15,241
12,717
2,081

 Isuzu
12,903
9,257
1,600

 Honda
15,252
10,550
1,439

 Ford-Mazda
5,510
7,316
1,397

 Nissan
8,368
5,978
536

 Others
15,609
13,059
1,930

 Total
92,336
88,075
13,332

Source: Campi.

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