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Philippines: Vehicle sales hit year-high in November
MANILA, Philippines — Local motor vehicle sales in 11 months this year have exceeded the total in 2020, with sales last month the highest for the year, the group of car and truck assemblers said.
A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released yesterday showed total vehicle sales reached 240,642 units as of end-November, overtaking the 223,793 units sold for full year 2020.
Compared to the 196,197 units sold in the January to November period last year, the latest sales performance went up 22.7 percent.
Passenger car (PC) sales accelerated 26.2 percent to 76,813 units while commercial vehicle (CV) sales rose 21 percent to 163,829 units, the group said.
CAMPI president Rommel Gutierrez said last year’s overall sales performance was surpassed as early as November as CAMPI and TMA achieved their highest monthly sales for the year.
In particular, total vehicle sales in November reached 26,456 units, 14.2 percent higher than the 23,162 units in the same period last year.
Last month’s sales also grew 17.2 percent compared to the 22,581 units sold in October.
PC sales grew 5.3 percent to 8,205 units in November, while CV sales went up by 18.7 percent to 18,251 units.
“Surpassing our last year’s sales performance gives the industry a renewed hope that recovery is underway as restrictions have started easing and economic activities have resumed at improved levels,” Gutierrez said.
He said the automotive industry, however, remains cautious and on guard given the uncertainties brought by mutations of the coronavirus, which he hopes would not weaken recovery.
Gutierrez said the changes seen in the automotive industry due to the pandemic in terms of online sales and marketing activities are expected to continue, as such have become a viable strategy to cater to the needs of customers.
Toyota Motor Philippines Corp. maintained its leadership in the market with a 48.27 percent share of total sales as of end-November.
Mitsubishi Motors Philippines Corp. was second with a 13.91 percent share, while Ford Motor Co. Philippines Inc. ranked third with a 7.54 percent share.
Suzuki Philippines Inc. had a 7.30 percent share, followed by Nissan Philippines Inc. with a 7.22 percent share.
Source: https://www.philstar.com/business/2021/12/14/2147749/vehicle-sales-hit-year-high-november