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Car sales in Philippines continue to slump
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Isuzu marks 21 straight years as number 1 truck brand
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BusinessWorld
February 12, 2021 | 12:31 am
Car sales slipped by 1.4% in January, industry data showed. PHILIPPINE STAR/MICHAEL VARCAS
THE AUTO INDUSTRY is showing hints of recovery, as car sales in January dipped by 1.4% year on year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported on Thursday.
The joint report said that sales fell to 23,380 units in January, from 23,723 in the same month in 2020, as passenger car sales growth failed to offset the continued drop in commercial vehicle sales.
In a statement, CAMPI said the slight year-on-year decline in January sales was a “positive sign” that the industry was slowly recovering.
Published February 12, 2021, 5:30 AM
Isuzu Philippines Corporation (IPC), the exclusive assembler, importer, and distributor of brand-new Isuzu commercial vehicles (CVs) and light commercial vehicles (LCVs) in the country, has once again come out on top in the joint sales report of the Truck Manufacturers Association Inc. (TMA) and the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) covering the period from January to December 2020.
The report showed that IPC sold 2,322 units of its N-Series light duty trucks, cornering the top spot in Category III with a 53% market share. It also led Category IV by selling 1,064 units of its F-Series medium-duty trucks, for a 38% share. It was no different in Category V, where the C&E-Series heavy-duty trucks lorded over the competition by selling 320 units for a 35% share. Combined, IPC’s overall commercial vehicle (CV) sales in Categories III, IV and V accounted for 3,707 units, or 45.2% of the market share.
Toyota Philippines expects industry sales to rebound this year BusinessWorld 1/29/2021 © Provided by BusinessWorld Newly assembled Toyota Vios sedans are seen at a stockyard of the Toyota Philippines manufacturing plant in Sta Rosa, Laguna, Aug. 11, 2014. REUTERS/ERIK DE CASTRO
The car industry is expecting a rebound in sales this year, targeting to sell 320,000 units on the back of improved demand, Toyota Philippines officials said.
Toyota Motors Philippines (TMP) President Atsuhiro Okamoto said that the industry expects to sell more cars this year, although the projection may be impeded by newly imposed safeguard duties on vehicles.
This target is 32% higher than their estimation of 242,000 units sold last year. Toyota itself targets 130,000 units this year after selling 100,019 last year, which accounted for a 44.69% market share.
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