Automotive sales fell 11.2 percent to 20,765 units in January this year from 23,380 units year-on-year after a strong holiday spending a month before.
A joint report Friday by Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association Inc. showed a 25.4-percent decline in sales from December’s 27,846 units.
“The industry anticipated a bleak growth last month. Historically, every first month of year is indeed sluggish coming from higher growth sales performance recorded every holiday season,” said CAMPI president Rommel Gutierrez.
Sales in December last year were the highest since the the pandemic hit the Philippines in March 2020.
Passenger car sales in January dropped 20.7 percent to 5,784 units from 7,295 on year and 31.5 percent from 8,447 units in December last year.
Sales of commercial vehicles dropped 6.9 percent to 14,961 units from 16,085 on year and 22.8 percent from 19,399 units in December.
Sales of light and category 5 trucks and buses among the commercial vehicles, however, posted a slight recovery. Sales of light trucks rose 0.3 percent to 334 units from 242 units and 14.9 percent to 85 units from 74 units in December.
Sales of the AUV and light commercial vehicle segments in January, meanwhile, declined 21.4 percent to 2,452 units from 3,118 units on year, and 3.5 percent to 11,893 units from 12,318 units, respectively.
Both segments posted a downtrend on month-month sales with AUV registering a 23.7-percent drop from 3,215 units and LVC by 22.5 percent from 15,340 units in December 2021.
Sales of category 4 trucks and buses fell 10.3 percent to 217 units from 242 units on year and 35.8 percent from 338 units in December 2021.
“Unfortunately, we cannot dismiss the impact of tighter restrictions reimposed in January as new cases of COVID-19 rose, particularly in NCR and nearby provinces, resulting in a lukewarm reception for big-ticket items spending,” Gutierrez said, referring to the National Capital Region.
Top-performing car companies were Toyota Motor Philippines Corp. with a 47.6-percent share, followed by Mitsubishi Motor Philippines Corp. with 14.2 percent. Nissan Philippines Inc. had 8.58 percent; Suzuki Philippines Inc., 6.9 percent; and Ford Motor Company Philippines. Inc., 5.8 percent.