PNA photo by Ben Briones
MANILA – Sales of automotive vehicles in the first quarter of the year increased by 30.1 percent to 97,284 units from 74,754 units in the same period in 2022, the joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) said Wednesday.
Both sales of passenger cars and commercial vehicles year-on-year improved by 35.1 percent and 28.5 percent, respectively.
Passenger car sales increased to 24,753 units in January to March 2023 from 18,323 units sold in the same period last year.
Commercial vehicle sales also went up to 72,531 units from 56,431 units.
All sub-segments of commercial vehicles increased their sales except for trucks and buses category five, which sales declined by 11.4 percent to 217 units in the first quarter of the year from 245 units last year.
Majority of the vehicle sales in January to March period this year were light commercial vehicles, selling 55,436 units, up by 21.5 percent from 45,629 units in the same period a year ago.
This is followed by Asian utility vehicles with sales of 14,688 units, up by 28.5 percent from 8,488 units.
Light trucks posted an increment of 10.6 percent, selling 1,261 units in the first quarter of 2023 from 1,140 in the same period last year.
Sales of trucks and buses category four were flat in the same comparable period at 929 units.
For March alone, CAMPI and TMA recorded an increment of 24.2 percent in their total sales.
Vehicle sales in March this year increased to 36,880 units from 29,865 units a year ago.
Bulk of sales was still from commercial vehicle segment, but growth was driven by passenger cars, according to the joint report.
“It is worth noting that the March 2023 sales performance is the second highest monthly performance in a post-pandemic time after the more than 37,000-unit sales level recorded in December last year,” CAMPI president Rommel Gutierrez said in a statement.
Gutierrez said the automotive industry continues to thrive amid the increased appetite of the market in purchasing new vehicles, which the industry hopes to continue in the coming months.
“In the same way, favorable economic conditions are also an important driving factor for sustained growth,” he added.
Meanwhile, top car brands in January to March 2023 period are Toyota, Mitsubishi, Nissan, Ford and Honda. (PNA)
