The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported that their combined sales in April this year increased by 21.8 percent to 30,643 units from 25,149 units a year ago.
Both year-on-year sales of passenger car and commercial vehicle segments improved by double digits.
Passenger cars sold a total of 7,317 units last month, 16.9 percent higher than the 6,259 units sold in April 2022.
Commercial vehicle sales increased by 23.5 percent to 23,326 units in April 2023 from 18,890 units a year ago.
“The improving economic indicators, which in fact remain favorable until the end of the year according to a government report, is an essential metric for the continued growth of the auto industry. At the same time, this is perfectly timed with the market availability of a wider range of motor vehicle models being offered by our members, responding to the growing needs of customers,” CAMPI president Rommel Gutierrez said in a statement.
From January to April 2023, CAMPI and TMA sales jumped by 28.1 percent to 127,927 units from 99,903 units in the same period last year.
On a year-to-date basis, sales growth of passenger cars was higher than the commercial vehicle segment at 30.5 percent and 27.3 percent, respectively.
Sales of passenger cars in the first four months of 2023 reached 32,070 units compared to 24,582 unit sales in the same period in 2022.
Commercial vehicles sold 95,857 units in the January to April 2023 period, higher than the 75,321 units sold in the same period last year.
“As the economic outlook remains favorable, the auto industry is optimistic to attain full recovery from the pandemic-induced challenges –well-positioned to grow to significant levels, even higher than the pre-pandemic figures. It is worth noting that the industry has already recorded this growth trajectory in the past four months compared with the 2019 levels,” Gutierrez added.
Top vehicle brands in the country as of end April 2023 were Toyota, Mitsubishi, Nissan, Ford, and Honda.
CURRENTPH NEWS SERVICE