Car sales surge in April
Car sales went up to 17,843 units in April from 133 units a year ago, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association showed.
In a statement on Tuesday, Campi President Rommel Gutierrez said that this is a record year-on-year sales increase since the advent of Covid-19 pandemic.
“The industry anticipated this recovery after the auto sales was severely hit by the pandemic in the same month last year – the sharpest decline in the history of the Philippine automotive,” said Gutierrez.
Month-on-month, however, car sales declined by 13.8 percent due to the reimposition of stricter quarantine restrictions following the increasing Covid-19 cases amid the reopening of the economy.
“Additionally, tighter bank lending continues to dampen the demand for consumer spending, especially for big-ticket items like auto amid the pandemic. The additional deposit due to safeguard measure is burdensome in itself to consumers and industry alike,” he said.
Sales of passenger cars reached 5,570 units significantly higher than the 26 units recorded a year ago, but down by 16.3 percent from the 6,661 units a month earlier.
Commercial vehicle sales, meanwhile, reached 12,273 units from 107 units, but down by 12.6 percent month-on-month.
Year-to-date, the industry has sold 88,155 units, a 36.3-percent increase compared with the same period last year.
Toyota Motors Philippines Corp. remained the top market player in the first four months with a 47.35-percent share. It sold 41,737 units higher than the year-earlier 25,732 units.
Mitsubishi Motors Philippines Corp. came second with a 15.54-percent market share. It sold 13,696 units, up by 11 percent from 12,257 units in 2020.
Nissan Philippines Inc. placed third with 7.06 percent, selling 6,221 units, a 27-percent decline year-on-year.