Automotive sales grew to 28,701 units in June up, 26.8 percent from 22,550 units in the same month a year ago.
Data from the joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) show a slow but steady growth of car sales amid the economic expansion.
“The automotive industry recovery is progressing as new motor vehicles sales reached an upward growth trajectory in June driven by the pent-up demand from consumers amid the less than ideal economic conditions recorded in the same period,” said CAMPI president Rommel Gutierrez.
Passenger cars during the period rose 1 percent to 7,457 units from 7,382 units on year, while those of commercial vehicle sales jumped 39.4 percent to 21,144 units from 15,168 units a year ago.
Total vehicle sales in June increased 8.5 percent from 26,370 units in May 2022. Sales of passenger cars rose 7.1 percent from 6,964 units, while those of commercial vehicle sales climbed 9 percent from 19,403 units.
Total vehicle sales in the first six months of 2022 rose 16.7 percent to 154,874 units from sales of 132,767 units year-on-year.
Toyota Motor Philippines continued to lead sales with a 49.6-percent market share, followed by Mitsubishi Motor Philippine Corp. with 12.9 percent.
Rounding up the top five best-selling brands were Nissan Philippines Inc. with a 9-percent share; Ford Motor Company Philippines Inc., 7.7 percent; and Isuzu Philippines, Corp., 6.8 percent.
CAMPI expects faster sales recovery once the government heeds an industry call for inclusion of all electric vehicle (EVs) technologies, including hybrid EVs, in the planned removal of the 30-percent most favored nation (MFN) tariff on completely built-up EVs.