Business / Corporate

Japanese carmakers dominate auto sales in the Philippines in 2017

Kyodo

Car manufacturers Toyota Motor Corp. and Mitsubishi Motors Corp. are leading automobile sales in the Philippines, together accounting for 60 percent of 380,000 units sold so far this year, according to industry data obtained Wednesday.

The data from the Chamber of Automotive Manufacturers of the Philippines shows Toyota Motors Philippines Corp. accounting for 43 percent of total sales from January through November, with 166,601 units sold during the period.

Mitsubishi Motors Philippines Corp. came in a distant second with a 17.55 percent market share, selling 66,704 units.

Ford Motor Company Philippines Inc. was in third place with an 8.42 percent share and 31,994 units sold, followed closely by Honda Cars Philippines Inc. with 7.05 percent and 26,277 units and Isuzu Philippines Corp. with 6.91 percent and 14,256 units.

With a total of 380,179 units of all brands sold in the Philippines so far this year, up from 325,467 during the same period last year, the country’s auto market is showing growth, registering a 16 percent increase in units sold.

Rommel Guiterrez, the chamber’s president, attributed the rise to “increased sales of major assemblers and distributors.”

“Carrying the momentum from November sales, the outlook for December remains strong, driven by the good sales performance of key models from other brands,” he said, while expressing confidence that the year-end industry target of 450,000 units sold will be met through competitive promotional support and marketing activities.