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Thursday, March 28, 2024

Vehicle sales climbed by 56.1% to 132,767 units in first six months

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Vehicle sales climbed 56.1 percent in the first half to 132,767 units from 85,041 units in the same period last year, the Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report Tuesday.

Data showed members of the two industry groups sold 22,250 vehicles in June up 44.8 percent from 15,578 units a year ago. The automotive sales figures, however, were still down from the pre-pandemic performance of 31,950 units sold in June 2019 and 174,135 units in the six-month period in that year.

“The industry is coping up with the pandemic recording a double-digit year-on-year growth of nearly 49 percent, but measly growing by 2.2 percent versus the previous month. This is a respite amid the less buoyant consumer outlook for big-ticket items for the second quarter of this year according to a government survey,” said CAMPI president Rommel Gutierrez.

Passenger car sales jumped 77.3 percent in the first six months to 42,406 units from 23,912 units in the same period in 2020. Commercial vehicle sales also increased 47.8 percent to 90,361 units from 23,912 units a year earlier.

CAMPI said that month-on-month sales rose 2.2 percent in June from 22,072 units in May 2021. Sales of passenger cars dropped 2.86 percent month-on-month to 7,382 units from 7,599 units while commercial vehicle sales grew 4.9 percent to 15,158 units from 14,463 units.

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It said that year-on-year sales rose 44.8 percent from 15,578 units in June 2020. Passenger car sales grew by 56.7 percent to 7,382 units from 4,711 units while commercial vehicles increased by 39.6 percent to 15,168 units from 10,867 units a year ago.

“The auto industry continues to adjust to the effects of the pandemic at the same time striving to strike a balance between its contribution to the economy and keeping its stakeholders safe and healthy during these unprecedented times,” Gutierrez said.

Top selling companies in the first half were Toyota Motors Philippines Corp., Mitsubishi Motors Philippines. Corp., Suzuki Philippines Inc., Ford Motor Company Philippines Inc. and Nissan Philippines Inc.

Another industry group, the Association of Vehicle Importers and Distributors Inc. reported that sales of imported vehicles went up by 59 percent in the first five months to 25,217 units from a year ago.

AVID president Ma. Fe Perez- Agudo said the improvement in sales was due to the group’s commitment to provide customers with quality vehicles and after sales service.

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