IT’S HERE. A unit of the all-new Honda CR-V diesel rolls off from a car carrier ship. The first units, according to Honda Philippines, arrived in the country last week. Honda Cars Cebu Inc. says units of the diesel variant of the CR-V will arrive Cebu late this week or early October.
CAR sales grew only by 8.7 percent in August, the slowest in four months, data from automotive and truck manufacturers showed.
According to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA), member companies sold 35,309 units in August, an 8.7 percent increase from the 32,472 cars sold in the same month in 2016.
The growth is the slowest since April this year, during which time Campi and TMA reported a year-on-year growth of only 4.8 percent.
In the first eight months of the year, car sales grew 16.7 percent to 268,424 units from 229,919 units sold in the comparative period in 2016.
The slow output in August comes in spite of expectations that there would be a boost in sales as people rush to buy cars to avoid the proposed hike in auto excise tax.
The Duterte administration’s first comprehensive tax reform package includes a proposed hike on the excise tax slapped on cars. The package’s version in the lower house, filed as House Bill 5636, was passed in May.
Still, Campi president Rommel Gutierrez said the collective performance of the member companies remained “stable.”
Toyota still no. 1”
Toyota Motors Philippines Corp. remained the market leader with a share of over 44 percent of total sales, followed by Mitsubishi Motors Philippines Corp. with 17.68 percent. Ford Motor Company Phils. Inc. was third with 8.51 percent, trailed behind by Isuzu Philippines Corp. with 6.84 percent and Honda Cars Philippines Inc. with 6.71 percent. /motioncars.inquirer.net