At the end of Q3, the numbers indicated that there was a chance that total vehicle sales this year would surpass that of last year. Now, it appears that’s really about to be the case.
According to the latest joint report from the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), the industry observed a 17.2% month-on-month sales increase in November with 26,456 vehicles sold.
The biggest winners in November were Toyota Motor Philippines (TMP), Mitsubishi Motors Philippines (MMPC), and Nissan Philippines (NPI). Year-on-year, TMP has shown the biggest growth, having already sold nearly 30,000 more vehicles than it did during the same period last year.
November’s tally is the highest monthly performance so far for 2021. Year-to-date, 240,642 units have already been sold, which is a 22.7% year-on-year increase. At this rate, the industry is well on its way to breaching the 244,274 mark set last year.
“Surpassing our last year’s sales performance gives the industry a renewed hope that recovery is underway as restrictions started easing, and economic activities have resumed at improved levels,” said CAMPI president Atty. Rommel Gutierrez. “However, the industry remains cautious and on guard at the same time on the uncertainties brought by the COVID-19 mutations, which hopefully will not undermine our recovery.”
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