Auto sales decline eases in September
Source: The Manila Times Time:2018-10-12 08:37:17
Vehicle sales fell anew in September but the decline continued to ease from July’s 24.1-percent plunge, data released by automakers on Thursday showed.
In a joint report, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported sales of 31,116 units for the month, down 9.7 percent from a year earlier.
Vehicle sales have contracted since February and July’s 24.1-percent drop was the steepest so far for the year.
The year-on-year drop, however, slowed to 14.1 percent in August and industry officials last month held out hope that consumer confidence was improving.
The main commercial vehicle segment saw September sales fall by 9.4 percent to 21,675 units from a year earlier, while passenger cars dropped by a 9.7 percent to 9,441 units.
Year to date, industry sales totaled 261,057 units, down 13.8 percent from the comparable 2017 period, as commercial vehicle sales fell 10.6 percent to 179,979 units and passenger cars dropped 20.2 percent to 81,078.
Toyota Motor Philippines Corp. continued to dominate the market in September, accounting for a 40.7 percent share or 12,688 units sold, down by 11.6 percent from last year.
In second place was Mitsubishi Motors Philippines Corp. with a 20.26 percent market share on sales of 6,305 units, up by 5 percent from a year earlier.
Third-ranked Nissan Philippines, Inc. which grew sales by 69.3 percent to 3,916 units, accounted for 12.59 percent of the market in September.