Vehicle sales still southbound; market leader Toyota loses 17% in first 10 months
Vehicle sales slumped in the first ten months this year with industry leader Toyota Motor Philippines Corp. suffering a bigger-than-industry drop.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association of the Philippines reported that sales stumbled 13.3 percent to 294,207 units from January to October this year from 339,380 units in the same period last year.
Sales of passenger cars in the first 10 months of the year plunged by 20.1 percent to 90,522 units from 113,341 units a year ago.
Sales of commercial vehicles slipped 9.9-percent to 203,685 units in January to October this year from 226,039 units in the same period last year.
Toyota Motors Philippines Corp. remained the market leader in the said period although its sales plummeted 16.7-percent.
Other market leaders in January to October period are Mitsubishi Motors Philippines Corp., Nissan Philippines, Inc., Ford Motor Company Phils., Inc., and Honda Cars Philippines, Inc. (PNA)