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Manila Bulletin devider Business devider Auto sales grow 8.9% in Q1 despite steep decline in March

Auto sales grow 8.9% in Q1 despite steep decline in March

Published Apr 14, 2021 06:11 am

Despite a steep 21.1 percent drop in sales in March, motor vehicle sales ended the first quarter this year with an encouraging 8.9 percent growth versus same quarter last year, the joint Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI)-Truck Manufacturers Association (TMA) reported.

The CAMPI-TMA data showed that Q1 sales reached 70,312 units for an encouraging 8.9 percent growth from 64,542 units in the same first three months of 2020. 

In the first quarter, data showed that all vehicle categories posted positive. In the case of passenger cars, this segment posted a 22.9 percent for 21,855 units versus 17,786 units while commercial vehicle sales grew 3.6 percent with 48,457 units sold versus 46,756 units in Q1 2020. 

However, sales in March steeply declined by 21.1 percent to 20,702 units from 26,230 units in the previous month, February. Only light trucks and category V (trucks and buses) posted positive growth in March versus February of same year.

CAMPI President Atty Rommel Gutierrez attributed the substantial sales decline  in March versus February to the double blow faced by the industry particularly the imposition of provisional safeguard duty and the enhanced community quarantine (ECQ) limiting mobility and restricting automotive operations anew in the National Capital Region and nearby provinces.

“The auto industry felt the slowdown in sales due to the reluctance of buyers with the additional deposit for some imported vehicles because of the provisional safeguard duty.  The lockdown also forced dealers to close operations that badly hit the already struggling auto industry,” Gutierrez said. 

When compared to March 2020, the March 2021 sales posted a strong rebound with 87.7 percent growth because there were only 11,029 units sold in March last year due to the imposition for the first time of the nationwide lockdown.

In terms of individual car firm performance, industry leader Toyota Motor Philippines posted 28.8 percent growth with total sales of 33,095 units year to date from 25,696 units in the first quarter of 2020.

Mitsubishi Motors Philippines, the second biggest car in the market, was able to sell only 11,788 units, a slight 3.7 percent reduction from its 12,235 units in the same first quarter last year. Nissan Philippines Inc. finished third with 5,198 units sold for steep 39 percent reduction from 8,517 units last year. 

Related Tags

TMA Auto Sales CAMPI
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