The Philippine automotive industry was off to a speedy start in 2016 as sales accelerated by a little over a quarter last month. The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) released a report showing vehicle sales among their members rose 27.6% in January to 23,808 units compared to last year’s 18,662 units at the same month. The growth was fueled by strong take-ups in all vehicle categories.
Passenger cars jumped 20% from 7,200 units last January 2015 to 8,632 units in January 2016. Commercial vehicles increased by 32% on last month to 15,176 units from 11,462 last year. Heavy-duty trucks and the bus segment led the growth of the commercial vehicle sector with a 188% year-on-year increase due to ongoing constructions and developments around the metro.
Toyota Motors Philippines Corp has remained top, having a share of 39.2%, followed by Mitsubishi Motors Philippines Corp with 20.4% and Ford Motor Co. Philippines at the third, having a 10.3% market share.
