Car sales jumped 90.5% in August, bringing year-to-date sales to 212,872 units on track for the industry to fully recover to pre-pandemic sales levels.
A joint report by the Chamber of Automobile Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that all categories posted huge increases, pushing August sales to 30,185 units , or 90.5% more than the 15,847 units sold in the same period last year.
Since the beginning of the year, CAMPI-TMA has sold 212,872 units, which is equivalent to a growth of 25.1% compared to the same period last year.
CAMPI President Atty. Rommel Gutierrez said the performance showed the industry recovery was indeed on track as we achieved monthly sales above 30,000 units – a pre-pandemic monthly performance level last recorded in 2019.
“This year-over-year improvement of 90.5% in August brings us closer to meeting the industry sales target this year,” Gutierrez said.
With the Philippine International Motor Show returning this month, Gutierrez expects more interest from buyers.
“There are many reasons to be optimistic about a stronger year after a period of declining sales due to the pandemic,” Gutierrez added.
For the month of August, CAMPI-TMA’s sales performance was largely fueled by the commercial vehicle segment, which increased by 114.1% with a sales volume of 23,452 units, representing 77.69% of more than the same month in 2021.
The passenger car segment also grew albeit at a slower pace of 37.6% with sales of 6,733 units compared to 4,894 units in August last year.
Among commercial vehicle categories, Asian commercial vehicle sales recorded a significant increase of 210.3% to 4,589 units from just 1,497 units in August 2021.
But in terms of volume, the biggest contribution went to the light commercial vehicles category with sales of 17,973 units, a significant increase of 106% compared to 8,723 units in the same period last year.
The other categories of light trucks (pickup trucks), Class IV and Class V trucks and buses also contributed with equally large increases of 29.9%, 1.2% and 51.8%, respectively.
Industry leader Toyota Motor Philippines Corp. reported 87.1% sales growth in August.
Sales of Mitsubishi Motors Philippines Corp. increased by 215.8% while Nissan Philippines Inc. recorded an increase of 45.2%.
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