Motor vehicle sales went up 40.9 percent in April versus same month last year, but the performance was still 15.3 percent lower compared to the previous month, an official industry report showed.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed total vehicle sales for April 2022 reached 25,149 units as against 17,843 units sold in the same period a year ago.
The April sales, which was 15.3 percent lower against March's 29,685 units, brought year to date sales to 99,903 units or 13.3 percent higher than the 88,156 units in the same first four months of 2021.
Of total year to date sales, the passenger car segment declined by 10.4 percent to 24,582 against 27,425 units last year. The commercial vehicle segment grew a significant 24 percent to 75,321 units from 60,730 units last year.
Of the 22 CAMPI-TMA members, Toyota Motor Philippines was still number one followed by Mitsubishi Motors Philippines, Nissan Philippines, Suzuki Philippines, and Ford Motor Company Philippines Inc.
“The April sales performance reflects the continued containment of the pandemic underpinned by the improved consumer demand for big-ticket items compared with last year,” CAMPI President Rommel Gutierrez said.
“The government’s economic growth target of seven-nine percent this year, driven by the overall improvement in employment and domestic demand will play a critical role in the economy and the industry’s recovery alike,” Gutierrez added.