Philippine car sales fall for 3rd straight month

VEHICLE SALES in the Philippines slipped for a third straight month in September, dragged by a double-digit decline in passenger car demand amid tighter credit and shifting consumer spending priorities.

- Justine Irish D. Tabile Reporter

Data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association released on Thursday showed total sales fell 3.8% year on year to 38,029 units from 39,542 a year earlier. Month on month, sales improved slightly from August's 7.6% drop, suggesting modest recovery momentum.

Passenger car sales plunged 23.9% to 7,948 units, accounting for just over a fifth of total industry volume. That segment, however, rebounded 4.7% from August’s 7,591 units. Commercial vehicle sales — which make up almost four-fifths of the market — rose 3.4% year on year to 30,081 units and were up 5.2% month on month.

Within the commercial segment, light commercial vehicle sales inched up 0.7% to 21,109 units, while Asian utility vehicles (AUV) rose 11.5% to 7,943. On a monthly basis, light commercial vehicle sales climbed 1.2% and AUVs rose 16.1%.

Light-duty truck and bus sales grew 8.3% to 589 from a year earlier, while medium- and heavy-duty categories fell 7.5% and 4.2%, respectively, to 371 and 69 units. Compared with July, all truck categories posted increases.