Auto industry sales down 7.4% in Nov.

Published December 17, 2020, 5:30 AM

by Bernie Cahiles-Magkilat

Motor vehicle sales in November suffered a 7.4 percent decline due to the consecutive typhoons that badly hit growth driver regions — Bicol, Central Luzon and the National Capital Region.

 A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed total sales reached 23,162 units in November, equivalent to a 7.4 percent decrease from 25,023 units sold in the previous month.

CAMPI president Atty. Rommel Gutierrez said that sales in the badly hit regions of Bicol, Central Luzon and NCR declined by 8.3 percent in November compared to October.

“We remain optimistic in sustaining this level of sales performance for this month, which is critical for the industry to achieve its sales forecast,” remarked Atty. Gutierrez.

Compared to November last year, the November 2020 sales also showed a negative 32.8% growth from 34,465 units sold in the same period last year. Year-to-date, the auto industry showed a more bleak picture as sales plummeted 41.6 percent to 196,197 units as against 336,226 units sold in the same period last year.