Jul 13, 2024 - 06:28
By manilatimes.net

Auto sales decelerate

MOTOR vehicle sales slowed in June compared to a month earlier due to supply issues and a demand slowdown, industry groups reported on Friday.

A total of 39,088 units left showrooms, down 2.9 percent from 40,271 in May, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association said.

«The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast-moving variants all contributed to this decline,» Campi President Rommel Gutierrez said in a statement.

Campi President Rommel Gutierrez

Year to date, however, sales were up 11.8 percent to 226,279 units compared to the 202,415 recorded in the first half of 2023.

Sales hit a record 429,807 units last year and automakers are hopeful of an even better 2024 showing of 468,300, to be helped by new vehicle offerings, marketing efforts and the staging of the 9th Philippine International Motor Show later this year.

Commercial vehicles continued to account for the bulk of sales, taking up a 72.81-percent share of the June total. Units sold, however, dropped by 2.9 percent to 28,460 units from 29,304 in May.

Year-to-date sales remained positive, up by 9.8 percent to 166,404 units — 74.88 percent of the total January-June tally — from 151,567 a year earlier.

Passenger car sales also fell in June, by 3.09 percent to 10,628 units from 10,967, but were 17.8-percent up for the six-month period at 59,875 units compared to the year-earlier 50,848.

The segment accounted for 27.19 percent of total sales in May and 25.12 percent year to date.

Toyota Motor Philippines Corp. continued to lead the market, having sold 18,093 units in June. Sales for the month were 10.5 percent higher compared to a year earlier and down 3.1 percent from May.

Year to date, Toyota grew sales to 104,350 units, up 11.5 percent from the first half of 2023 and equivalent to a 46.12-percent market share.

Mitsubishi Motors Philippines Corp. remained second with June sales of 7,453, 9.6 percent higher year on year and 1.8-percent up from May.

The automaker has now sold 42,599 units as of June, 15.1 percent higher compared to 12 months earlier