We went into August knowing that the reimposition of enhanced community quarantine (ECQ) could rapidly undo all the small, sometimes faltering steps we’ve taken toward recovery. Well, now we know how much the lockdown has curtailed the local automotive industry’s rebuilding efforts.
Member companies of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) recorded total vehicle sales of 15,847 units last month. That represents a 26.3% drop from July 2021’s figure of 21,498 units, and an 11.5% decline compared with August 2020’s sales of 17,906 units.
“The message of this bleak performance is worth noting: Stricter lockdown strategy in response to curbing the COVID-19 pandemic affects the auto industry’s recovery this year,” said CAMPI president Atty. Rommel Gutierrez.
He added that the local industry “targets to achieve total sales of 295,400 units or 20.9% growth than the actual sales recorded last year,” and the latest year-to-date figures indicate that the group is pulling in the numbers necessary to reach this goal.
From January to August 2021, CAMPI and TMA have sold a total of 170,112 units, which represents a 37.8% increase over the 123,849 units sold in the same period last year. Light commercial vehicles like crossovers, SUVs, and pickups account for more than half of this total with 88,500 units sold. Passenger cars, meanwhile, have a more modest market share of around 32%, but sedans and hatchbacks are definitely attracting more buyers this year, as sales in this segment are 53.1% up compared with the corresponding period in 2020 (54,402 versus 35,523 units).
Do you think the local automotive industry will hit its sales target for 2021, and are you planning to contribute toward that goal with a brand-new car purchase of your own during these last few months of the year? Let us know in the comments. And if you’re in the market for a new ride, be on the lookout for sales promos—you can find the latest ones here.