THE local automotive industry’s brand new vehicle sales rate declined by 24.6 percent during the first four months of 2002 compared to the same period last year.
Second hand vehicle sales also dropped by 27.6 percent during the same period.
Latest data from the Commonwealth Auto Dealers’ Association showed a total of 288 brand new vehicles sold between January and April this year, compared to 382 units sold during the first four months of 2001.
But Carlos P. Camacho, CADA president, said the industry expects to see some sales growth with the release of refund and rebate checks.
“Buying remains conservative with the present state of the economy. We are, however, optimistic sales will pick up with disbursement of tax refunds,” Camacho told Variety.
Microl Corp., the local authorized distributor of Toyota and GM vehicles, ranked first in the sales chart with a total of 108 brand new units sold for the first four months of 2002.
This, however, is a 40.98 percent drop from its sales portfolio of 183 units last year during the same months.
Triple J Motors sold a total of 94 brand new Hyundai, Mitsubishi, Isuzu and Suzuki between January and April, compared to only 66 units sold during the same period last year.
Triple J is the only CADA member that posted a year-to-date growth.
Joeten Motors landed in third place with a sales portfolio of 86 units between January and April of 2002, a 34.85 percent drop from last year’s first four months.
Joeten Motors is the local authorized distributor of Nissan, Ford, Honda and Kia.
CADA sold a total of 162 used or second hand vehicles between January and April, marking a 27.6 percent decline from the 224 sold during the same months last year.
Of the 162 used vehicles sold, 73 came from Microl Corp.; 49 from Joeten Motors; and 36 from Triple J Motors.
