The Manila Times

Car sales up by 40% in April

ANNA LEAH E. GONZALES

CAR sales continued to grow in April but at a slower pace compared to the all-time high seen in March, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) said on Thursday.

In a joint statement, Campi and TMA said auto sales during the month reached 25,149 units, up by 40.9 percent compared to the 17,843 units a year ago.

The growth in sales was lower than the 43 percent seen in March.

Month on month, car sales also contracted by 15.3 percent from 29,685 units.

Passenger car sales grew by 12.4 percent from 5,570 units to 6,259 units in 2021.

Commercial vehicle sales also went up by 53.9 percent to 18,890 units from 12,273 units in the same month last year.

“The April sales performance reflects the continued containment of the pandemic underpinned by the improved consumer demand for big-ticket items compared with last year,” Campi President Rommel Gutierrez said.

“The government’s economic growth target of 7 percent to 9 percent this year, driven by the overall improvement in employment and domestic demand, will play a critical role in the economy and the industry’s recovery alike,” Gutierrez added.

Year to date, car sales went up by 13.3 percent to 99,903 units from 88,155 units in 2021.

Toyota Motors Philippines Corp. continued to dominate the market with a 50.9-percent year-to-date market share, selling 50,945 units, up from 41,737 units a year ago.

Mitsubishi Motors Philippines Corp. placed in second with a market share of 13.28 percent. It sold 13,270 units, down by 3.1 percent from a year earlier’s 13,696 units.

Nissan Philippines Inc., meanwhile, obtained a 7.59-percent market share. It sold 7,586 units, higher by 21.9 percent from a year ago’s 6,221 units.

Business Times

en-ph

2022-05-13T07:00:00.0000000Z

2022-05-13T07:00:00.0000000Z

https://digitaledition.manilatimes.net/article/281921661640779

The Manila Times