LOCAL auto assemblers notched a 17.1-percent growth in sales during the first half of the year, said the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA).
In a joint statement on Thursday, Campi and TMA said the June 2017 sales reached 37, 631 units, pushing the total first-half sales to 196,164 units.
The January-to-June sales haul is 17.1 percent higher than the same period in 2016, when sales were at 167,480 units.
Sales in June alone was 14.1 percent higher versus the same month last year, led by the passenger and commercial vehicle segments.
The passenger-car segment sales reached 13,677 units, a 14.4-percent growth over June last year, with 11,951 units sold.
As of June 2017, the segment was 67,180 units, or 34.25 percent of year-to-date sales. The commercial-vehicle segment also sold 23,954 units, with a 13.8-percent increase over the same period last year, which was at 21,042 units.
The first-semester sales were led by Toyota Motor Philippines Corp., with a 43.7-percent market share. Mitsubishi Motors Philippines Corp. was second, with 17.61 percent. Ford Motor Co. Philippines was third, with 8.52 percent; Isuzu Philippines Corp. was fourth, with a 7.25-percent market share, while Honda Cars Philippines Inc. was at fifth, with a 7.03-percent market share.
The automotive industry is eyeing a conservative sales target of 430,000 to 450,000 units this year, with issues affecting the industry looming ahead, including the comprehensive tax-reform bill of the Department of Finance proposing to levy a higher excise tax on automobiles.