Automotive

Philippines - Vehicle sales surge 39.2% in June

Source: IHS Global Insight Daily Analysis, 22 July 2010

According to data released by the Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers' Association, Philippine vehicle sales surged 39.2% year-on-year (y/y) to 15,189 units during June. Passenger car sales increased 43.5% y/y to 5,083 units in the month and are up 32.2% y/y at 28,222 units in the year to date (YTD).

Toyota remained the leading automaker in the country during the first half of the year with sales of 26,493 units, up 27.6% y/y. It achieved a market share of 32.3% in the period. Mitsubishi and Hyundai took second and third spot, respectively, with sales of 15,653 units (up 46.9% y/y) and 9,834 units (up 100.6% y/y). Mitsubishi and Hyundai achieved market shares of 19.1% and 12%, respectively.

Indonesia - Auto sales boosted by popularity of MPV

Source: The Jakarta Post, 24 July 2010

Indonesia's auto sales in the first half of 2010 grew by 76% on the same period last year to 370,208 units, the Indonesian Automotive Industry Association (Gaikindo) says. Johnny Darmawan, the president director of PT Toyota-Astra Motor said the association were optimistic that they can reach the target of selling 650,000-700,000 units by the end of 2010.

According to the association's data, this year's growth was mainly driven by the high sales of the Multi-Purpose Vehicle (MPV) model which accounted for 242,694 units, making up 65% of all models marketed in the country. In 2009 the MPV model was also a favoured choice, taking 69.3% of the market share, despite sales being down to 335,053 units from 388,790 in the previous year.

China - Slow demand bringing down auto prices

Source: International Business Times, 25 July 2010

China, the world’s biggest automobile market is set to witness a fall in prices over the rest of the year due to rising inventories and pressure among wholesalers to meet sales deadlines, according to the National Development and Reform Commission (NDRC). Inventory levels reached 55 days supply in June from 43 days at the beginning of the year, according to China Automotive Tech & Research Centre.

Due to rising consumer prices, passenger-car deliveries in June recorded the slowest growth in the past 15 months. Since February 2009, vehicle sales saw a continuous rise after slowing in April 2010. Auto prices have already fallen by 1.18% in the first half of 2010, according to the ministry. While dealers are already offering discounts, automakers are also set to join them.

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