Giannis Antetokounmpo

Car sales in Jan-March down 9.9% to 32,608 units

Rappler.com
Total sales in the 1st quarter still shows lingering impact of Thailand floods and Japan twin disasters in 2011, but higher-than-expected sales of CAMPI members in March may mean better 2012 forecast

MANILA, Philippines – Members of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) sold 32,608 units in the first quarter of 2012, reflecting a 9.9% decline from a year-ago levels. 

This reflects the lingering impact of Thailand’s floods and Japan’s earthquake-tsunami twin disaster in 2011 that resulted in the supply disruption of raw materials. 

However, a better-than-expected sales performance of CAMPI members in March is prompting the industry association to consider revising their forecast for entire 2012.

On Thursday, April 12, Campi reported that its members sold 13,631 units in March, up 27.6% from 10,681 in February.

Campi president Rommel Gutierrez attributed the March sales performance to more stable raw material supply and introduction of new models that helped push demand.

Gutierrez said the industry may realize a growth from last year’s sales of 155,000 units.

“We will revisit the projection given the positive performance so far for the first quarter. By May, we shall have a new projection,” said Gutierrez.

The increase in March was pushed by the recovery of Honda Cars Philippines Inc. whose sales jumped 167% to 1,631 units in March from 611 in February, bringing first quarter sales of the company to 2,324 units.

Toyota Motor Philipines Corp. led all assemblers in the first quarter with sales of 12,645 units, followed by Mitsubishi Motor Philippines  8,230 units at second. Rounding up the top 3 is Isuzu Philippines Corp., with sales of 2,728 units. – Rappler.com

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