August 21, 2022

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CAMPI-TMA: Vehicle sales up by 29.4% in July

VEHICLE SALES appear to be on the up-and-up, per the July joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). Member companies of the two associations accounted for total sales of 27,813 units in July, compared to 21,498 units recorded in the same month a year ago.

In a statement, CAMPI President Atty. Rommel Gutierrez said, “The double-digit sales growth recorded in July driven by higher demand for new motor vehicles brings a high degree of confidence for continued recovery of the auto industry. This mirrors the improvement on the consumer outlook for big-ticket items based on the government report.”

During the launch of Toyota Mobility Solutions, Toyota Motor Philippines Corp. (TMP) Director Vince Socco predicted economic growth of seven to eight percent this year.

Added Atty. Gutierrez, “The improvement in the availability of jobs and employment, business recovery and containment of the pandemic are important drivers for the overall economic recovery in this post-pandemic normalcy — similarly true for the industry’s recovery as well.”

Leading total vehicle sales in July was TMP with 13,936 sold. Toyota cornered 50.11% of the market, even if sales for the month were down by 3.4%. The year-to-date sales figure for the country’s perennial triple crown winner (leading the country in passenger car, commercial vehicle, and total sales) is 94,026. In second place is Mitsubishi Motors Philippines Corp. with 5,027 vehicles sold last month (up 11.1%); YTD figure is 25,761. In third place is Ford Motor Company Philippines, Inc. with 1,797 automobiles sold; YTD, it has sold 10,753. July’s fourth-placer is Nissan Philippines, Inc., selling 1,705 vehicles (YTD: 12,893). Rounding out the top five is Suzuki Philippines, Inc. with 1,562 units sold. Its YTD figure is 11,413.

As a whole, CAMPI-TMA has sold 182,687 units YTD, equivalent to 18.4% growth compared with the same period last year (154,265). — KMA