New vehicle sales in the Philippines fell 3.3% year on year to 12,090 units in November, and by 10.4% compared with the previous month, according to member data released by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).
The association attributed the deterioration in the market to stock shortages as a result of the recent floods in Thailand. The Philippines is heavily dependent on passenger cars from Thailand, with sales falling by 34.1% year on year in November.
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Year to date sales for the 11-month period were down by 1.9% at 131,242 units, with passenger car sales down by 5.6% at 41,789 units. Commercial vehicles sales were flat year on year at 89,453 units.
The CAMPI data does not include sales of Hyundai Asia Resources, the exclusive Hyundai distributor, which reported a 40% rise in sales in November to 2,127 units. Year to date sales were up by just 1% at 18,922 units, however.
Market leader Toyota reported a 1.2% decline in year to date sales to 50,610 units.
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