Native gross sales of automotive automobiles grew at its slowest tempo thus far this yr in October at 1.2 p.c, knowledge from business sources confirmed on Friday.
In response to a report launched by the Chamber of Automotive Producers of the Philippines Inc. (Campi) and the Truck Producers Affiliation, models offered within the month solely reached 40,003, barely up from 39,542 models in September.
Regardless of this, Campi president Rommel Gutierrez remained optimistic because the sector nonetheless posted modest development in October regardless of current storms affecting companies.
READ: Development of PH automobile gross sales slowed to 2.4% in September
“The rise could be attributed to good gross sales and good inventory availability, neutralizing the impact of Extreme Tropical Storm ‘Kristine’ on the operations of sellers nationwide final month,” he stated in a press release on Friday.
Business automobiles continued to dominate the market with 29,959 models offered in October, whereas mild business automobiles got here second with 21,813 models. Passenger automotive and Asian utility automobile segments adopted with 10,044 and seven,089 offered models, respectively.
Article continues after this commercial
The October quantity introduced whole gross sales on the finish of 10 months to 384,310 models, 9 p.c larger than the 352,971 models logged in the identical interval final yr. Business automobiles and lightweight business automobiles remained the expansion drivers, based mostly on the joint report.
Article continues after this commercial
By way of market share, Toyota Motor Philippines was nonetheless the highest participant with a 46.43-percent share.
It was adopted by Mitsubishi Motors Philippines Corp. with 19.09 p.c, Ford Group Philippines at 6.12 p.c, Nissan Philippines Inc. with 5.80 p.c, and Suzuki Philippines Inc. with a 4.36-percent share.
Your subscription couldn’t be saved. Please attempt once more.
Your subscription has been profitable.
