Philippine car sales up by 2.8pct YoY in September

Reading time: min

Manila Standard Today reported that car sales rebounded with a 2.8% growth in September 2012, following a 1% slump in August 2012 amid heavy rains and floods in Metro Manila.

The Chamber of Automotive Manufacturers of the Philippines Inc said that sales in September 2012 reached 12,856 units, up from 12,509 a year ago. It was also higher than 11,351 vehicles sold in July 2012.

Mr Rommel Gutierrez president of Campi said that "The influx of new model introductions has boosted industry sales. Manufacturers have made up for lost sales opportunities in August 2012 brought about by the heavy monsoon rains."

The September 2012 sales brought the tally in the first nine months to 111,582 units, up by 6% YoY from 105,306 vehicles sold in 2011, driven by continued strength of the economy.

Toyota Motor Philippines remains the industry leader with a share of 41.5% of the market, followed by Mitsubishi with 22.3% and Honda with 8.3%.

Mr Gutierrez said that "We are very pleased with Campi's performance for September 2012." He added that the industry was on track of meeting its target because of the country's positive economic indicators coupled with the fact that the last quarter of the year is seasonally high in terms of sales.

Campi earlier revised its sales growth target in 2012 to 185,000 units from 154,000 at the start of the year, owing to improved supply condition.

Source - Manila Standard Today