The Philippine automotive industry registered a significant growth in sales last month driven by major assemblers and distributors.
Based on Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) data released on Wednesday, the total industry sales grew by 23.8% in November.
CAMPI President Rommel Gutierrez said in a statement: “November sales result is higher than the month of October because of increased sales of major assemblers and distributors.”
The top companies are:
- Toyota Motors Philippines Corp. with a market share of 43.82 %
- Mitsubishi Motors Philippines Corp. with 17.55 %
- Ford Philippines with 8.42 %
- Honda Cars Philippines Inc. with 7.05 %
- Isuzu Philippines Corp. with 6.91 %
Gutierrez said: “Carrying the momentum from November sales, the outlook for December remains strong driven by the good sales performance of key models from other brands.”
He added that they are confident that the year-end industry target will be met as they continue with competitive promotional support and marketing activities.
According to CAMPI, its 2017 sales target was 430,000 to 450,000 units.