ASEAN KEY DESTINATIONS
PHL automotive industry sales up 23.8% in November
The Philippine automotive industry registered a double-digit sales growth last month driven by major assemblers and distributors.
Data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) on Wednesday showed total industry sales grew by 23.8 percent to 40,799 units in November.
This compares with 36,511 units in October this year and 32,966 in November 2016.
“November sales result is higher than the month of October because of increased sales of major assemblers and distributors,” CAMPI President Rommel Gutierrez said in a statement.
Toyota Motors Philippines Corp. accounted for most of the sales with a market share of 43.82 percent, followed by Mitsubishi Motors Philippines Corp. with 17.55 percent, Ford Philippines with 8.42 percent, Honda Cars Philippines Inc. with 7.05 percent, and Isuzu Philippines Corp. with 6.91 percent.
“Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models from other brands,” Gutierrez said.
Year-to-date sales were up 16.8 percent to reach 380,179 units in January to November from 325,468 in the same period last year.
“We are confident that the year-end industry target will be met as we continue with competitive promotional support and marketing activities,” Gutierrez said.
CAMPI said earlier its 2017 sales target was 430,000 to 450,000 units.
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