The automotive industry expects a 17-percent growth in sales this year to 336,000 units from 268,488 vehicles sold in 2021, following the shift of most parts of the country to Alert Level amid the declining rates of virus infection.
Industry groups Chamber of Automotive Manufacturers of the Philippines Inc., Truck Manufacturers Association and Association of Vehicle Importers and Distributors made the prediction despite the sluggish sales in the first two months which were affected by the surge of the Omicron variant in the early part of the year.
“As the economy reopens, the safety and health of the public is paramount to prevent another wave of virus infections and cause disruption anew to the recovery of the industry, which targets to sell 336,000 units this year,” said CAMPI president Rommel Gutierrez.
“The industry is anticipating to see continued recovery this month, as the economy further reopens, downgrading to the least restrictive Alert Level 1 in major areas including the National Capital Region starting this month,” he said.
