Motor vehicle sales in the country fell 26.3 percent in August to 15,847 percent compared to 21,498 units from the previous month due to reimposition of hard lockdown in Metro Manila and strict quarantines in other parts of the country, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed.

(FILE PHOTO / MANILA BULLETIN)

Last month’s sales also posted a negative 11.5 percent growth compared to the August 2020 sales of 17,906 units.

CAMPI President Atty. Rommel Gutierrez attributed the negative growth in August to the decline in economic activity and consumer spending in general, which was worsened by the reimposition of the 2-week hard lockdown in the National Capital Region and nearby provinces last month. August is also a historically lean month.

“The message of this bleak performance is worth noting: stricter lockdown strategy in response to curbing the COVID-19 pandemic affects the auto industry’s recovery this year. The industry targets to achieve total sales of 295,400 units or 20.9 percent growth than the actual sales recorded last year,” said Gutierrez.

But the year to date automotive sales registered a hefty 37.8 percent increase to 170,112 units from 123,489 units in the same period January – August period last year.

The passenger car segment contributed a total of 54,402 units or 53.1 percent higher compared to 35,523 units sold in the same 8 months of 2020. Sales of commercial vehicles had the bigger share with total sales of 115,710 units or 31.5 percent increase from 87,966 units in the same period last year.

Interestingly, there has been a major realignment in terms of ranking among the 23 car and trucks companies. Toyota Motors Philippines Corp. remained strong in the top slot with total sales of 82,389 units followed by Mitsubishi Motors Philippines Corp. with 23,912 units.

Suzuki Philippines Inc. continued to hold on to its third slot with total sales of 12,954 units and Ford Motor Company Philippines Inc. at fourth placed with 12,921 units. Nissan Philippines Inc. has been displaced moving down to fifth with total sales 11,498 units.


Source: Manila Bulletin (https://mb.com.ph/2021/09/10/auto-industry-sales-drop-26-3-in-august/?utm_source=rss&utm_medium=rss&utm_campaign=auto-industry-sales-drop-26-3-in-august)