MANILA – The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported another double-digit growth for vehicle sales in November, the ninth consecutive month that local vehicle assemblers recorded double-digit growth in volume.
A joint CAMPI and TMA vehicle sales report for November 2022 showed an increase of 32.4 percent to 35,037 units from 26,456 units sold in November 2021.
Sales of commercial vehicles led the growth at 43 percent to 26,106 units last month from 18,251 units sold a year ago.
In the commercial vehicle segment, 20,211 unit sales were light commercial vehicles, 4,983 units were Asian utility vehicles, 537 units were light trucks, 337 units were trucks and buses category 4 and 83 units were trucks and buses category 5.
Passenger car sales in November had a modest growth of 8.8 percent year-on-year to 8,931 units from 8,205 units.
“The auto sales performance has been improving, recording double-digit growths for nine successive months. With the continued growing consumer demand for new motor vehicles, the industry is convinced and confident in exceeding its sales forecast of 336,000 this year,” CAMPI president Rommel Gutierrez said in a statement.
Sales of the local vehicle assemblers from January to November this year jumped by 31 percent to 315,337 units from 240,642 units in the same period in 2021.
Of the total sales in the first 11 months of the year, commercial vehicles sold 238,054 units and passenger cars with 77,283 units.
Commercial vehicle segment has also driven the industry sales year-to-date with growth of 45.3 percent while passenger car segment had an uptick of 0.6 percent.
“The automotive industry underscores the importance of pent-up demand from consumers supported by continued economic recovery, boosting business and consumer confidence. These, alongside the containment of the pandemic, are significant factors towards sustained growth,” Gutierrez added.
Leading car manufacturers in the country for the past 11 months were Toyota, Mitsubishi, Ford, Nissan and Suzuki. (PNA)
