Tuesday, 9 June 2009

Philippine automotive sales rebound in May, jumps 4.6% from April

Max V. de Leon
Business Mirror
http://www.businessmirror.com.ph/home/economy/11454-automotive-sales-rebound-in-may-jumps-46-from-april.html

Automotive sales in the country rebounded in May, registering a 4.6-percent increase compared with April.

However, the industry’s growth remained in the negative territory with a 3.7-percent drop in sales for the first five months of the year.

The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) reported that the industry sold 10,450 units of vehicles in May from only 9,980 units in April.

“The increase in May sales continues to validate the relative confidence of consumers on the market where they continue to purchase vehicles for their needs whether for family/personal or for business use. Key to sustained sales is the stable financing environment, which allows buyers to take out loans to finance their purchases,” Elizabeth Lee, Campi president, said in a statement.

She said sales are expected to continue to be stable and grow in the coming months, with the auto players sustaining promotional activities and easy payments that benefit buyers.

The industry needs to double its marketing efforts as it is still performing below the January-to-May 2008 pace. For the first five months of the year, local auto players only managed to sell 49,002 units compared with 50,883 units in the same period last year.

Passenger car (PC) sales for the first five months of the year increased by 2.3 percent to 17,562 units, while the number of commercial vehicles (vans, pickups, SUVs, AUVs, trucks, buses) sold dropped by 6.7 percent to only 31,440 units.

Toyota Motors Philippines remains as the market leader, although its sales went down by 6.2 percent for the period at 17,080 units.

Eleven other Campi members are experiencing lower sales for the year, with the biggest drops felt by Pilipinas Hino at negative 48.2 percent, General Motors Automobiles Phils. at negative 408 percent, Nissan Motor Philippines negative 36.7; Isuzu Philippines negative 24.4 percent, and Columbian Motors negative 23 percent.

Mitsubishi Philippines is enjoying brisk sales so far with 8,750 units and a 27.3-percent increase to place second overall.

Honda is third with 7,164 units, Hyundai 4,001; Isuzu 3,250; Ford plus Mazda 2,610 units; Universal Motors 1,936 units; Columbian Autocar 1,270 units; Suzuki 916 units, and Nissan Motor Philippines 719 units.

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