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Philippines: Car, truck sales dip 9.8% in October
MANILA, Philippines — Sales of cars and trucks slid by 9.8 percent in October from a year ago, but the motor vehicle industry still expects to end the year with higher sales compared to 2020.
Data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) yesterday showed their total vehicle sales reached 22,581 units in October, lower than the 25,023 units in the same month last year.
Passenger car (PC) sales went down by 15.2 percent to 7,626 units while commercial vehicles (CV) sold declined 6.7 percent to 14,955 units.
Compared to the total vehicles sold in September which reached 21,493 units, CAMPI-TMA sales in October rose by five percent.
“Based on the October 2021 sales performance, the auto industry remains strong and will certainly surpass last year’s overall performance,” CAMPI president Rommel Gutierrez said.
Last year, the group’s total vehicle sales reached 223,793 units.
“Likewise, we continue to discuss relevant issues with the government aimed at ensuring full recovery of the industry as the country’s economic growth outlook is upgraded,” Gutierrez said.
In the 10 months to October, CAMPI-TMA’s total sales accelerated by 24 percent to 214,186 units from 173,035 units in the same period last year.
Car sales grew by 29 percent to 68,608 units while CV sales climbed by 21 percent to 145,578 units.
Toyota Motor Philippines Corp. remained the market leader with 48 percent of sales as of end-October.
Mitsubishi Motors Philippines Corp. came in second with a 13.8 percent share, followed by Ford Motor Co. Philippines Inc. with a 7.6 percent share.
Suzuki Philippines Inc., which had a 7.5 percent share, placed fourth, while Nissan Philippines Inc. took the fifth spot with a 7.06 percent share.
Source: https://www.philstar.com/business/2021/11/12/2140611/car-truck-sales-dip-98-october