The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association (CAMPI-TMA) has revised sales forecast to 240,000 units this year or 41.5 percent lower than its 2019
sales performance.
This developed despite dramatic sales improvement in July by 31.9 percent 20,542 units in July from 15,578 units sold a month ago.
CAMP-TMA said this growth will not be enough to offset steep declines in the past months with year-to-date sales still almost 50 percent lower than the same period last year, official industry data showed.
Year-to-date, the industry has sold 105,583 units, a 48.7 percent decline compared with the same period a year ago.
On a year-on-year basis, industry sales fell by 35.4 percent from 31,810 units sold in July last year.
CAMPI President Rommel Gutierrez noted that achieving the industry’s average monthly pre-COVID-19 level remains elusive and a challenge at the same time amid this pandemic and the recent pronouncement of economic recession.
“But this month-on-month of nearly 32 percent growth is what the industry needs at this point to achieve its sales forecast of 240,000 units for this year,” said Gutierrez.
He acknowledged though thIs sales volume target is equivalent to 41.5 percent decrease compared with their 369,941 units sold in 2019.
Total industry sales in 2019 including sales from the all importers group Association of Vehicle Importers and Distributors reached a total of 416,637 units in 2019.
“This volume reduction can have serious operational and financial impact on the automotive industry. We have submitted some recommendations for industry support, which are now under study by the Department of Trade and Industry,” he said.
“The industry is doing all it can to sustainably provide sales promotions to encourage customers amid another stricter community quarantine for this month.”
The industry, he said, is ensuring that all the necessary safety measures are strictly observed to protect both customers and frontliners.