Domestic motor vehicle sales in the first quarter this year improved by 6.3 percent with sales reaching 74,754 units on strong 43.4 percent sales growth for the month of March, negating the significant decline in passenger cars, official industry data showed.
The Chamber of Automotive Manufacturers of the Philippines Inc.-Truck Manufacturers Association (CAMPI-TMA) data showed that of total first quarter performance sales, passenger cars went down by 16.2 percent to 18,323 units as against 21,855 units sold in the same first quarter 2021.
Meantime, sales of commercial passenger cars equally grew by 16.5 percent to 56,431 units from 48,457 units in the comparative first quarter 2021, offsetting the decline in the passenger car segment.
Notably, the CAMPI-TMA reported that sales in March alone contributed 29,685 units or 43.4 percent higher than March 2021 sales of 20,702 units, bringing overall sales into the positive territory.
Of the commercial vehicle categories, the Asian utility vehicle sales suffered a considerable 12.3 percent decline in the first three months this year to 8,488 units while the trucks and buses (category V) went down by 28.8 percent or sales of 245 units from 344 same quarter last year. Sales of light trucks (pick-ups) also decreased by 6.1 percent to 1,140 units.
But sales of light commercial vehicles (LCV) or the sports utility vehicle (SUV) category went up 25.3 percent to 45,629 units or 25.3 percent more than the 36,430 units sold in the first quarter of 2021.
Interestingly, the LCV or the SUV category already accounted for a huge 80.88 percent share of the total commercial vehicles sold in the first quarter of the year. In the first quarter of 2021, SUV sales accounted for 75.18 percent of segment sales.
On a monthly basis, however, all segments and vehicle categories were on the positive side.
In terms of ranking, Toyota Motor Philippines sold 37,230 units year to date or 12.5 percent higher than the 33,095 units sold in the same first three months of 2021.
Toyota also widened its market share to almost half or 49.80 percent from 47.07 percent share in the first quarter of 2021 where the Japanese car giant sold 33,095 units in the Philippine market.
Mitsubishi Motor Philippines was a poor second with 10,343 units sold or 12.2 percent lower than the 11,788 units it sold in the first quarter of 2021.
Nissan Philippines Inc. sold 5,886 units or 13.2 percent more than the 5,198 units in the same first quarter last year for a market share of 13.84 units.
CAMPI President Atty. Rommel Gutierrez said the “March performance has already reached the industry’s pre-COVID sales level – and now the highest monthly sales recorded since the onset of the pandemic based on our data.”
Gutierrez cited the March performance a milestone as it essentially gives the industry a positive signal of continued recovery of the economy.
“The industry remains cautiously optimistic for full recovery this year. At this point, it is indeed crucial that we remain on guard against any potential risks in achieving full economic recovery,” Gutierrez added.