Local automotive assemblers’ sales up 17% in November

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Sales of the local automotive industry increased by 17.2 percent month-on-month in November 2021 to 26,456 units from 22,581 units sold in October.

In a statement Monday, the Chamber of Automotive Manufacturers in the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) are optimistic that the industry’s recovery is on track after posting double-digit growth last month as the majority of areas in the country were placed under Alert Level 2.

Commercial vehicle sales fueled the industry growth last month as sales rose 22 percent to 18,251 units from 14,955 in October.

Passenger car segment grew by 7.59 percent to 8,205 units from October’s sales of 7,626 units.

Year-on-year, industry sales rose 14.2 percent from 23,162 units in November 2020.

“Surpassing our last year’s sales performance gives the industry a renewed hope that recovery is underway as restrictions started easing, and economic activities have resumed at improved levels,” CAMPI president Atty. Rommel Gutierrez said.

Gutierrez said the industry and vehicle buyers have embraced the shift to online sales and marketing, in which these activities will continue in the future.

“This has become a viable strategy for the automotive industry to meet the needs of our stakeholders,” he said.

Meanwhile, local assemblers’ sales from January to November 2021 increased by 22.7 percent to 240,642 units from 196,197 units in the same period a year ago.

Passenger car sales for the past 11 months went up by 26.2 percent to 76,813 units from 60,857 units last year.

Commercial vehicle sales jumped 21 percent to 163,829 units this year from 135,340 units in the same period in 2020.

Commercial vehicles comprised 68 percent of the market and the remaining 32 percent were passenger cars.

“The industry remains cautious and on guard at the same time on the uncertainties brought by the Covid-19 (coronavirus disease 2019) mutations, which hopefully will not undermine our recovery,” Gutierrez added.

Market leaders for the past 11 months were Toyota, Mitsubishi, Ford, Suzuki, and Nissan, respectively.

Source: https://www.pna.gov.ph/articles/1162555

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