Vehicle sales up 44.8% in June year-on-year but still struggling overall due to the pandemic

According to a joint report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), vehicle sales increased by 44.8% to 22,550 units in June compared to 15,578 units sold a year ago. The industry as a whole remains burdened by the pandemic.

Sales in June 2020 tripled from the previous month as lockdown restrictions in Luzon eased and dealerships reopened. Sales figures, however, remained more than 50% lower than the 31,950 units sold in June 2019.

According to CAMPI President Rommel R. Gutierrez, the industry has been recording double-digit year-on-year growth, but the monthly increase was “measly” at 2.2% from the 22,062 units sold in May.

“This is a respite amid the less buoyant consumer outlook for big-ticket items for the second quarter of this year according to a government survey,” said Gutierrez.

“The auto industry continues to adjust to the effects of the pandemic at the same time striving to strike a balance between its contribution to the economy and keeping its stakeholders safe and healthy during these unprecedented times,” he added.

Commercial vehicle sales rose by 39.6% to 15,168 units in June year-on-year and 4.9% from the May figure.

Commercial vehicle sales also accounted for two-thirds of total sales by CAMPI-TMA members for the month.

Passenger car sales rose by 56.7% to 7,382 units year-on-year but fell 2.86% from the May figure.

In the first half of 2021, vehicle sales rose by 56.1% to 132,767 units from 85,041 year-on-year.

In the year-to-date, commercial vehicle sales increased by 47.8% to 90,361 units, while passenger car sales rose 77.3% to 42,406 units.

Toyota Motors Philippines Corp. (TMP) continues to hold the highest sales in June with 11,242 units sold or 49.85% of the market share.

Mitsubishi Motors Corp. followed with 2,933 units sold or a 13.01% market share, while Suzuki Philippines, Inc. sold 1,795 units or a 7.96% market share.

Mr. Gutierrez has stated that he expects the car industry to recover to pre-pandemic sales as late as 2023.

SOURCE: Business World