New vehicle sales in the Philippines fell sharply year on year in July, by 23% to 11,550 units, from an estimated 14,992 units in the same month a year ago. This data includes members of the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) but excludes figures from non-members, including Hyundai, Kia and Subaru.
In the first seven months of the year, CAMPI members reported a 4% decline in sales to 81,550 units, from 84,905 units in the equivalent year earlier period, with the association reporting continued supply shortages from Japan.
Passenger car sales declined by 4.2% to 27,264 units while commercial vehicle sales weakened by 3.8% to 54,286 units.
Market leader Toyota reported a 7.5% decline in overall sales in July while Honda sales fell by almost 25%. Mitsubishi escaped most of the disruption, with sales rising by 6.5% in the month.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData