AMID LINGERING global challenges in microchip supply and supply chain issues, vehicle sales continue to trend upward in the Philippines. The latest joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) revealed that total new motor vehicle sales for October reached 32,146 units, growing by 42.4% over last year’s 22,581 units sold in the same month.
In a release, CAMPI President Atty. Rommel Gutierrez said, “The continued double-digit growth recorded anew in October is boosting optimism for the automotive industry, further accelerating full recovery this year from the pandemic disruptions.”
Toyota Motor Philippines led the sales charge in October, selling 15,541 units and cornering 48.35% of the market. While month-on-month sales decreased by 3.7%, the figure is 39.3% more than the October 2021 sum. In second place is Mitsubishi Motors Philippines Corp. with 5,527 units sold in October, growing by 12.1% month on month and by 102.1% versus October 2021. It accounted for 17.19% of total sales in October. Ford Motor Company ranked third with 2,401 vehicles sold in the period (-17.1% month on month, +51% versus October 2021), and cornered 7.47% of market share. Nissan Philippines, Inc. is in fourth place with 1,694 units moved (+7.1% month on month, -10.2% versus October 2021). Rounding out the top five is Suzuki Philippines (1,692 units sold, +3.4% month on month, +15.6% versus October 2021).
“Sustaining this growth trend in the remaining months of the year gives us confidence that the industry will be able to emerge strong, exceeding its forecast speaking from the current business-as-usual standpoint,” Atty. Gutierrez added.
Year to date, CAMPI-TMA member companies have moved 280,300 units, reflecting 30.9% growth versus the same period last year. In a text message, Atty. Gutierrez previously said to “Velocity,” “We expect continued year-on-year growth performance… with the drivers being overall improvement in employment and domestic demand, and continued containment of the pandemic, improved consumer confidence as the country shifts to a lower-risk COVID classification.” — Kap Maceda Aguila
