Vehicle sales rose marginally in the first quarter despite a return to pre-pandemic volume in March.
A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association showed total vehicle sales in March reached 29,685 units, up 43.4 percent compared with 20,702 units recorded in the same month a year ago and higher by 22 percent from 24, 304 units in February.
“March performance has reached the industry’s pre-COVID (new coronavirus disease 2019) level of sales — and now the highest monthly sales recorded since the onset of the pandemic based on our data. This milestone is very important to the industry as this essentially gives us a positive signal of continued recovery amid the economy and business operations alike starting to normalize,” said Rommel Gutierrez, Campi president.
But Gutierrez said the industry remains “cautiously optimistic” about full recovery this year “as we just started the second quarter.”
“ At this point, it is indeed crucial that we remain on guard against any potential risks in achieving full economic recovery, and pre-pandemic levels of business and consumer confidence at the same time,” Gutierrez added.
In the first quarter, vehicle sales rose 6.3 percent to 74,754 units from 70,312 units in the same period in 2021.
Sales of passenger cars dropped 16 percent to 18,323 units from 21,855 units last year while of commercial vehicles rose 16.5 percent to 56,431 units from 21,855 units the previous year.
Leading all companies is Toyota Motor Philippines Corp. which sold 37,230 units followed by Mitsubishi Motor Philippines Corp., 10,346 and Nissan Philippines Inc., 5,886 units. – Irma Isip
