February 4, 2023

Filipino Guardian

Sentinels of Filipino Free Press

Vehicle sales post double-digit growth for 9th month in a row

Vehicles are stuck in traffic along EDSA, Cubao in Quezon City, August 18. — PHILIPPINE STAR/ MIGUEL DE GUZMAN

DIE AUTOINDUSTRIE continued its strong recovery and recorded the ninth consecutive month of double-digit sales growth in November.

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) shows vehicle sales rose 32.4% in November to 35,037 units, up from 26,456 in the same month of the year 2021. Month by month, vehicle sales increased by 9%.

“Auto sales performance has improved, posting double-digit growth for nine consecutive months,” CAMPI President Rommel R. Gutierrez said in a separate statement.

Commercial vehicle sales rose 43% in November to 26,106 units from 18,251 sold in the same month of 2021. It accounted for 74.51% of total industry sales.

Compared to the previous month, commercial vehicle sales increased by 9.4%.

Broken down, sales of light commercial vehicles (LCVs) rose 43.9% year-on-year to 20,211 units, while sales of Asian commercial vehicles (AUVs) rose 52.4% to 4,938 units in November.

Passenger car sales rose 8.8% to 8,931 in November from 8,205 units sold in the same month last year. Month-on-month, passenger car sales increased by 7.68%.

The auto industry is on track to meet its sales target this year.

CAMPI-TMA members saw a 31% increase in sales to 315,337 units in the January-November period from 240,642 units a year earlier.

“With consumer demand for new vehicles continuing to grow, the industry is confident and confident of exceeding its sales forecast of 336,000 this year,” said Mr. Gutierrez.

Commercial vehicles have fueled the industry’s recovery, which saw sales grow 45.3% year-on-year to 238,054 for the January-November period. Sales were led by LCVs, which rose 48.5% to 187,101 units sold, while AUV sales rose 44.3% to 41,812 units.

Passenger car sales were flat, increasing 0.6% to 77,283 units in the 11-month period.

“The auto industry underscores the importance of consumer pent-up demand, supported by the ongoing economic recovery, boosting business and consumer confidence. In addition to containing the pandemic, these are important factors for sustainable growth,” said Mr. Gutierrez.

Among the car brands, Toyota Motor Philippines Corp. dominated. the industry with a market share of 49.75% and 156,874 units sold in the period from January to November.

Other top automakers include Mitsubishi Motors Philippines Corp. with a 14.81% market share or 46,692 units sold, followed by Ford Motor Co. Phils., Inc. with a 6.80% share or 21,450 units sold; Nissan Philippines, Inc. with a 6.14% share or 19,373 units sold; and Suzuki Phils., Inc. with a 5.75% share or 18,118 units sold. — RMDochave