The local automotive industry saw a significant dip in sales back in April due to the reintroduction of more stringent quarantine restrictions. Fortunately, as these lockdowns started easing up in May, the industry was able to bounce back a bit.
According to the latest report from the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association, there were a total of 22,062 vehicles sold in May, resulting in a 23.6% increase from the 17,843 units sold the month prior.
This also reflected a 361% year-on-year growth from the 4,788 units sold in May 2020. Also, year-to-date vehicle sales have already risen to a total of 110,217, which is equivalent to a 58.7% increase from the same period last year.
Leading the way in total vehicle sales so far this year is, of course, Toyota Motor Philippines (TMP) with 52,516, followed far behind in second by Mitsubishi Motors Philippines (MMPC) with 16,925. Back in third is Ford Philippines with 8,239, tailed closely by Suzuki Philipines with 8,192. In fifth is Nissan Philippines with 7,499.
TMP, MMPC, and Ford still hold the top three spots in terms of commercial vehicle sales. As for passenger car sales, TMP and MMPC still fall in first and second, respectively, but the third spot is held by Honda Cars Philippines.
“The industry remains optimistic of a nascent recovery but at the same time on guard for any downside risks of the pandemic particularly if lockdowns are reimposed in NCR Plus and in other regions resulting in a tepid consumer confidence,” said CAMPI president Atty. Rommel Gutierrez.
