PH Auto sales recover in September

Business

Month-on-month sales of locally assembled motor vehicles recovered in September following the easing of quarantine restrictions by the government.

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported that its industry group’s sales in September jumped by 37 percent to 24,523 units from 17,906 units in August, with Toyota, Toyota, Mitsubishi, Nissan, Suzuki, and Ford remaining as the current market leaders.

CAMPI president Rommel Gutierrez said they remain optimistic “the automotive sector will recover until the end of the year amid the new normal environment as the industry posted double-digit growth of 37 percent in September.” Both passenger cars and commercial vehicle segments grew month-on-month by 56.9 percent and 28.2 percent in September, respectively.

Gutierrez said demands for new cars posted double-digit growth on all vehicle categories except trucks and buses. “We are still cautious, however, that consumer spending is below pre-pandemic levels due to the evident shifts to essential goods and services,” even as compared to 2019 figures, the September 2020 sales declined by 22.9 percent from 31,820 units last year.

The year-to-date sales also decreased by 44.6% with  267,364 units from January to September 2019 and this year’s 148,012 units.

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