Philippines new vehicles market up over 20% at September 2015 running again for the all-time record and for the first time above the 300.000 units in a year. New data are reported including commercial vehicles.
Growth picked up in Q2, supported by household and government spending. However, exports disappointed and likely remained a drag in Q3: exports contracted from April to September, with September’s drop being the steepest in four years. Following July’s and August’s subdued readings, remittances rebounded in September.
The political arena is gradually being dominated by campaigning for the May 2016 presidential elections. The candidate who is chosen to succeed President Benigno Aquino will play a major role in determining whether the sound economic reforms initiated under Aquino will be continued. While uncertainty regarding policy continuity is likely to restrain private investment in the next months, increased public spending ahead of the elections is expected to boost growth.
The government is taking efforts to accelerate infrastructure spending and envisages a notable public sector wage increase for 2016. Meanwhile, in October, the country was hit hard by Typhoon Koppu, which killed 58 people and damaged farms and fisheries, highlighting the need to further improve resilience against the frequently-occurring weather phenomenon.
To double volume between 2009 and 2014 was not enough for this effervescent market as the country development is robust and the large population require more and more devices to move. In the 2015, sustained by a still strong economy, the domenstic new vehicles market has scored records again and will land over the 300.000 units first time ever.
Please note that from this month onwards, we will report about total vehicles sales (cars, plus all commercials) while so far we have reported only about light vehicles (without heavy trucks and bus).
Following a stong first half, with sales at 162.055 units, +26.5%, the momentum was life again in the third quarter.
According to the report issued by the joint Marketing Committee of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), in July September period sales had been up 8.9% (July), 22.0% (August) and 17.5% (September.
During the first nine months of the year total vehicles sold had been 241.588, up 22.6% projecting the entire year above the 310.000 units.
Year-to-date September Toyota reported 87.139 sales (+16.2%) with market share at 36.1%. In second place Isuzu with 20.343 sales (+15.7%) followed by Mitsubishi with 40.067 (+16.6%), Ford with 18.016 (+7.5%) and Hyundai with 14.285 (+6.1%, but data could be partial).
As far as the car group’s performance, Toyota dominated with 36.7% of market share followed by Mitsubishi at 16.7%, Isuzu Motor Group at 8.4% and Hyundai Group at 7.6%.
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Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will report year to date data updated.
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