Vehicle sales went up 17 percent in May, recovering from a rather slow turnout in the month before, data from automotive and truck manufacturers showed.
According to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA), member companies sold 35,469 units in May, up 17 percent from 30,317 units.
This suggests that growth of car sales has been picking up pace, following a mere 4.8 -percent year-on-year growth in April, the groups’ slowest since the start of the year.
Last month, sales of passenger cars and commercial vehicles rose by 33 percent to 11,690 units and 22.4 percent to 23,779 units, respectively.
“Sustained marketing efforts continue to push sales as reflected in May sales performance”, said Campi president Rommel Gutierrez in a statement.
Toyota still in the lead
This maintains the upward trajectory of the industry so far. In the first five months of the year, 158,533 units have been delivered, 17.9 percent higher that the 134,487 in the same period in 2016.
Toyota Motor Philippines Corp. maintained its lead in May, accounting for a 43.67-percent market share. Mitsubishi Motors Philippines Corp. followed with 17.83 percent, Ford Motor Company Philippines Inc. placed third with 8.47 percent share, and Isuzu Philippines Corp. followed with 7.02 percent. Honda Car Philippines Inc. had a 7-percent market share at fifth place.