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Philippines: Car sales down 51% in H1
MANILA, Philippines – Car sales plunged by 51 percent to 85,041 units in the first semester from 174,135 units a year ago on weak demand for both passenger cars (PC) and commercial vehicles (CV), according to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).
PC sales declined by 54 percent to 23,912 units in the January to June period from the previous year’s 52,418 units.
CVs sales of also decreased by 50 percent to 61,129 units in the first six months from 121,717 units a year ago.
For the month of June alone, combined sales of CAMPI and The Truck Manufacturers Association (TMA) were down by 51 percent to 15,578 units from 31,950 units last year.
Compared to the 4,788 units sold in May, sales in June surged by 225 percent.
PC sales in June slid by 51 percent to 4,711 units from 9,532 units in the previous year.
CV sales were also down by 52 percent to 10,867 units in June from 22,418 units last year.
While sales in the first semester and for the month of June were lower compared to the same period last year,
CAMPI president Rommel Gutierrez said the group is encouraged by the month-on-month growth seen in June.
“This positive growth shows early signs that consumer demand for new cars is starting to improve albeit slowly. The auto industry recovery may take time as vehicle sales still remain a challenge,” he said.
Gutierrez said “the industry is also maximizing digital platforms as one of the avenues to strengthen campaigns for our sales promotional. This is one of the strategies to adapt to the new normal environment.”
The group expects total automotive industry sales to drop by at least 20 percent this year.
Last year, total vehicle sales covering those sold by the CAMPI and the Association of Vehicle Importers and Distributors Inc. reached more than 410,000 units.
Source: https://www.philstar.com/business/2020/07/14/2027735/car-sales-down-51-h1