Vehicle sales in October registered its monthly highest this year at 34,397 units, 3.4 percent higher from 33,150 units in the same month in 2018.

The automotive industry remains positive it will reach its 2019 growth target as car firms’ sales promotion efforts yield 3.4 percent higher sales in October this year alone.

According to a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association (CAMPI-TMA), vehicle sales in October registered its monthly highest this year at 34,397 units, 3.4 percent higher from 33,150 units in the same month in 2018.

“The current market demand for vehicles along with creative and aggressive sales promotion efforts give us a positive outlook as we aim to sustain the growth trend for the remaining months of the year,” CAMPI president Atty. Rommel Gutierrez said.

“We remain positive that our industry target for the end of the year will be achieved as all brands remain committed to provide innovative mobility solutions to the Filipino people.”

The October results also brings year-to-date growth to 2.53 percent, to 301,761 units from 294,311 units in the same ten-month period last year, boosted by commercial vehicle sales. CAMPI-TMA’s member companies sold 211,361 CV units during the period, a growth of 3.8 percent from last year.

Light commercial vehicles followed with 168,707 units sold, up 12.6 percent. Passenger car sales were significant at 90,400 units, albeit down 0.2 percent in the 10-month period, followed by AUV sales down 25.2 percent and light trucks up 4.6 percent.

There were 9.8 percent less buyers of category four trucks and buses, to 3,909 units, the same with category five trucks and buses which registered a 32.7 percent drop in sales, to 1,145 units.

In terms of current market share, Toyota Motors Philippines Corp. remains on top with a 43.25 percent share. TMP’s car sales has risen five percent to 130,520 units from January to October this year.

TMP is followed by Mitsubishi Motors Philippines Corp. whose sales dropped 9 percent to 51,515 with a market share of 17.07 percent. In October alone, sales were down 8.3 percent to 5,508 units.

Nissan Philippines Inc. is still third with a 30 percent sales growth, to 36,677 units, and a market share of 12.15 percent. Rounding the top five were Suzuki Phils Inc. whose sales are up 18.2 percent year-to-date and Ford Motor Company Phils, Inc. with an 8.7 percent drop in sales.