Auto industry sales improve 22% in April
Published May 15, 2023 03:33 am
Motor vehicle sales went up 21.8 in April compared to the same month last year on improving economic situation and availability of a wider range of motor vehicle models, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).
Official industry data showed that the 29 members of the CAMPI-TMA were able to sell a total of 30,643 units, equivalent to 21.8 percent increase compared with 25,149 units recorded in the same month last year.
The April sales brought year-to-date total to 127,927 units or 28.1 higher compared with the same first four-month period a year ago.
The data, however, showed that the month of April performance was 16.9 percent lower than the previous month (March), which sold 36,880 units. Notably, except for the light trucks category that posted positive growth of 54.1 percent, the rest were in the negative territory when compared to March sales.
Nonetheless, of the total 30,643 units sold in April there were only 7,317 passenger cars sold or 16.9 percent higher than the 6,259 units in April 2022. The April 2023 sales also showed a significant 27.25 percent decline when compared to March this year.
The commercial vehicle segment registered higher increase of 23.5 percent with sales of 23,326 units from 18,890 units in April 2022, but it was 13 percent lower compared to the 26,822 units sold in the previous month.
Toyota Motor Philippines Corp. sold 14,123 units in April followed by Mitsubishi Motors Philippines with 5,613 units as top performers in the industry.
CAMPI President Atty Rommel Gutierrez said improving economic indicators helped propelled the sales increases.
At the same time, he said, the April performance was also boosted by the market availability of a wider range of motor vehicle models being offered by its members, responding to the growing needs of customers.
“As the economic outlook remains favorable, the auto industry is optimistic to attain full recovery from the pandemic-induced challenges – well-positioned to grow to significant levels, even higher than the pre-pandemic figures. It is worth noting that the industry has already recorded this growth trajectory in the past four months compared with the 2019 levels," Gutierrez added.
Official industry data showed that the 29 members of the CAMPI-TMA were able to sell a total of 30,643 units, equivalent to 21.8 percent increase compared with 25,149 units recorded in the same month last year.
The April sales brought year-to-date total to 127,927 units or 28.1 higher compared with the same first four-month period a year ago.
The data, however, showed that the month of April performance was 16.9 percent lower than the previous month (March), which sold 36,880 units. Notably, except for the light trucks category that posted positive growth of 54.1 percent, the rest were in the negative territory when compared to March sales.
Nonetheless, of the total 30,643 units sold in April there were only 7,317 passenger cars sold or 16.9 percent higher than the 6,259 units in April 2022. The April 2023 sales also showed a significant 27.25 percent decline when compared to March this year.
The commercial vehicle segment registered higher increase of 23.5 percent with sales of 23,326 units from 18,890 units in April 2022, but it was 13 percent lower compared to the 26,822 units sold in the previous month.
Toyota Motor Philippines Corp. sold 14,123 units in April followed by Mitsubishi Motors Philippines with 5,613 units as top performers in the industry.
CAMPI President Atty Rommel Gutierrez said improving economic indicators helped propelled the sales increases.
At the same time, he said, the April performance was also boosted by the market availability of a wider range of motor vehicle models being offered by its members, responding to the growing needs of customers.
“As the economic outlook remains favorable, the auto industry is optimistic to attain full recovery from the pandemic-induced challenges – well-positioned to grow to significant levels, even higher than the pre-pandemic figures. It is worth noting that the industry has already recorded this growth trajectory in the past four months compared with the 2019 levels," Gutierrez added.