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MANILA: The auto industry appears to be on a growth trajectory again after the setback in vehicle sales last August.
The Chamber of Automobile Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) in a joint report revealed that total sales reached 24,523 units last September, a growth of 37% over total sales. August 17,906 units.
The August sum represented a 12.8% decrease from the 20,542 units sold in July, effectively halting a three-month period of growth.
“CAMPI remains optimistic that the automotive sector will recover until the end of the year amid the new normal environment, as the industry posted double-digit growth,” said the president of the Atty automotive group. Rommel Gutiérrez in a statement.
Amid sustained aggressive promotions and an influx of new models, it appears that people continue to regain confidence and are buying vehicles once again. “Demand for new cars posted double-digit growth across all vehicle categories except trucks and buses. But we are still cautious that consumer spending is below pre-pandemic levels due to the obvious shifts towards essential goods and services, ”Atty continued. Gutierrez.
Total sales so far this year amount to 148,012, 44.6% less than in the same period last year.
The pace of all brands is Toyota Motor Philippines Corporation (TMP), which captured 43.46% of the market. From 8,044 units sold in August, TMP moved 10,657 units, up 32.5% in September. In second place is Mitsubishi Motors Philippines Corporation (MMPC), whose sales grew significantly by 105.4% from 2,621 units in August to 5,384 in September. MMPC took 21.95% of the market last month.
Nissan Philippines, Inc. (NPI) monthly performance was virtually unchanged from 1,881 units in August to 1,866 units in September (-0.8%), but still ranked third with a market share of 7.61 %. In fourth place is Suzuki Philippines, Inc. (SPH), whose sales grew 26.8% from 1,345 units in August to 1,706 units in September, for a market share of 6.96%.
Rounding out the top five brands in sales is Ford Motor Company Philippines, Inc. (6.41% market share). Sales grew 27.6% from 1,233 units in August to 1,573 units last month.
CAMPI and TMA had already recalibrated their 2020 sales target to 240,000 units in light of the challenges posed by the pandemic and even the Taal volcano eruption earlier in the year.
Volkswagen photo
Also read: After 3 months. growth, car sales fell 12.8% in August.
