Vehicle sales plunge 16% in 2018
Vehicle dropped by 16 percent in 2018 which was worse than the 14
percent forecast of the Chamber of Automotive Manufacturers of the
Philippines, Inc. (CAMPI).
In its sales report released Monday, CAMPI said the total sales of its
members last year only reached 357,410 units, lower by 68,253 units
from 2017’s sales of 425,673 units.
Passenger car dealers sold 108,020 units in 2018, 21.8 percent lower
than the 139,424 units the segment sold in 2017.
Commercial vehicle sales also declined by 13.2 percent to 248,390
units in 2018 from 286,249 units sold in 2017.
Light commercial vehicles accounted for bulk of sales with 185,430
units, down by 2 percent from 189,248 units in 2017.
Asian utility vehicles (AUVs) were the hardest hit as sales plunged
39.6 percent to 48,271 units in 2018 from 79,896 units the segment
sold in 2017.
Light trucks’ sales decreased by 22.9 percent to 7,619 units, while
sales trucks and buses categories four and five sold 5,076 units and
1,984 unit, respectively.
“The auto industry has been recovering since the second half of 2018.
We are confident that the continued month-on-month positive sales
growth rate during the period will be sustained in 2019,” CAMPI
President Rommel Gutierrez said.
Toyota Philippines Corp. remained the top brand in the industry with
a 42.8 percent market share.
Left eating its dust were Mitsubishi Motor Philippines Corp. with 19
percent; Nissan Philippines, Inc., with 9.7 percent ; Ford Motor
Company Philippines, Inc., with 6.59 percent; and Honda Cars
Philippines, Inc., with 6.52 percent. (PNA)