The overall sales of local carmakers dropped by 16 percent in 2018, greater than its projected 14-percent decline for the year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported.
In its sales report released Monday, CAMPI said the total sales of its members last year only reached 357,410 units, lower by 68,253 units from 2017’s sales of 425,673 units.
This, after passenger car and commercial vehicle segments registered decrements in sales in the previous year.
Passenger car segment sold 108,020 units in 2018, 21.8 percent lower than the 139,424 units the segment sold in 2017.
Commercial vehicles’ sales also declined by 13.2 percent to 248,390 units in 2018 from 286,249 units sold in 2017.
Among commercial vehicles, the light commercial vehicles segment sold the highest number of units last year reaching 185.430 units.
However, sales in this segment slightly fell as well by 2 percent from 189.248 units in 2017.
Sales of Asian utility vehicles (AUVs) recorded the largest drop of 39.6 percent, with sales of 48,271 units in 2018 from 79,896 units the segment sold in 2017.
Light trucks’ sales decreased by 22.9 percent to 7,619 units, while sales trucks and buses categories four and five sold 5,076 units and 1,984 unit, respectively.
Meanwhile, sales for December 2018 alone showed improvements.
Vehicle sales in December last year increased by 2.2 percent to 31,945 units from 45,494 units in December 2017.
Passenger cars sold 9,301 units during this period while commercial vehicle sales reached 22,644 units, with increment of 1.13 percent and 2.6 percent, respectively.
“The auto industry has been recovering since the second half of 2018. We are confident that the continued month-on-month positive sales growth rate during the period will be sustained in 2019,” CAMPI President Rommel Gutierrez said.
Gutierrez told reporters in a previous interview that a 10-percent growth is still possible for the entire industry this year, which means the inclusion of sales of car importers’ group, Association of Vehicle Importers and Distributors.
“With the GDP (gross domestic product) per capita on a high level, more new vehicle models to be introduced, and a strong economy, we welcome the new year with great excitement,” he added.
Market leaders for 2018 are Toyota Philippines Corp., with a 42.8 percent market share; Mitsubishi Motor Philippines Corp., with 19 percent share; Nissan Philippines, Inc., with 9.7 percent share; Ford Motor Company Philippines, Inc., with 6.59 percent share; and Honda Cars Philippines, Inc., with 6.52 percent share.