Philippines 2016. Market up 27% hitting new record

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Hyundai-Veloster-2016-

Philippines Auto Sales 2016 hit the fifth All Time Record in a series, joining the Top 30 World’s market for the very first time. Toyota led again the market while Hyundai outpaced Ford for the third place.

After Q3’s impressive GDP reading, recent high frequency indicators suggest that growth in the Philippines likely moderated in the final quarter of the year. Growth in manufacturing activity, despite remaining robust, most probably slowed slightly in the fourth quarter according to leading indicators.

Moreover, the typhoon that hit the Philippines in December caused extensive damage, cutting off power to millions and negatively affecting agricultural production.

The automotive industry is a key fuel of booming economy and in the 2016 has beaten many records. The domestic sales hit the all time record for the 5th year in a row, outpacing the milestone of 0.4 million vehicles, just four years after having outplaced the 0.2 million, showing the best trend in the World.

According to data reported by AVID, Campi and TMA, vehicles sales had been 419.063, near 100.000 more than in the previous year, up 27.4%, the second best annual increase among the Top 60 vehicles market in the World (a 0.1 less than the best, Iran).

Toyota improved sales by 25.4% at 158.715 units and was followed by Mitsubishi (+13.1%), Hyundai (+52.8%), Ford (+32.8%) and Isuzu (+21.2%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

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