Car sales rise by a third in January
02/10/2010 | 09:52 AM
The automotive industry kicked off 2010 with hefty sales growth in January, much improved than flat sales in the same month last year, data released on Tuesday showed.
Twenty car firms sold 11,763 units last month, up by a third from 8,791 vehicles sold by 18 distributors a year earlier.
Last month’s sales were even better than 8,809 units sold in January 2008 before the economic downturn deepened, but were fewer than the 13,000 monthly average in the last quarter of last year when buyers sought to replace flood-damaged cars.
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) traced the increase to brighter economic prospects.
Trucks, vans and other commercial vehicles drove sales with a 46 percent rise to 7,907. This segment continued to corner more than two-thirds of total sales.
Passenger car sales, meanwhile, improved by 14.3 percent to 3,856 units.
"To a certain extent, strong vehicle sales is (sic) reflective of a stronger economic environment," CAMPI President Elizabeth H. Lee said in a statement.
"With the robust growth of [commercial vehicle] sales... Filipinos are now showing more aggressiveness in either starting a business or expanding their current businesses," she added.
Despite the good head start, CAMPI will keep its 4-percent growth outlook for 2010 in the meantime.
"We will revise accordingly but [only when] first-quarter [figures are in] to see the trend," Lee said in a text message.
Industry leader Toyota Motors Philippines Corp. remained the top seller, accounting for nearly a third of total sales. The firm sold 3,871 vehicles, up by more than a fifth.
Sales of Mitsubishi Motor Philippines Corp. went up by more than half to 2,411 units.
Third-placed Honda Cars Philippines, Inc. sold 1,319 units, down by more than a tenth. — Jessica Anne D. Hermosa, BusinessWorld
Twenty car firms sold 11,763 units last month, up by a third from 8,791 vehicles sold by 18 distributors a year earlier.
Last month’s sales were even better than 8,809 units sold in January 2008 before the economic downturn deepened, but were fewer than the 13,000 monthly average in the last quarter of last year when buyers sought to replace flood-damaged cars.
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) traced the increase to brighter economic prospects.
Trucks, vans and other commercial vehicles drove sales with a 46 percent rise to 7,907. This segment continued to corner more than two-thirds of total sales.
Passenger car sales, meanwhile, improved by 14.3 percent to 3,856 units.
"To a certain extent, strong vehicle sales is (sic) reflective of a stronger economic environment," CAMPI President Elizabeth H. Lee said in a statement.
"With the robust growth of [commercial vehicle] sales... Filipinos are now showing more aggressiveness in either starting a business or expanding their current businesses," she added.
Despite the good head start, CAMPI will keep its 4-percent growth outlook for 2010 in the meantime.
"We will revise accordingly but [only when] first-quarter [figures are in] to see the trend," Lee said in a text message.
Industry leader Toyota Motors Philippines Corp. remained the top seller, accounting for nearly a third of total sales. The firm sold 3,871 vehicles, up by more than a fifth.
Sales of Mitsubishi Motor Philippines Corp. went up by more than half to 2,411 units.
Third-placed Honda Cars Philippines, Inc. sold 1,319 units, down by more than a tenth. — Jessica Anne D. Hermosa, BusinessWorld
