Vehicle sales bounced back in May from April’s decline, pushing year-to-date growth to 15 percent.
In a joint report, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association said total vehicle sales last month reached 26,370 units, up 5 percent from 25,149 units in April and by 19.5 percent from May 2020 sales of 22,062 units.
May’s increase represents the third consecutive month of double-digit growth year-on-year, “indicating that recovery is underway, said Rommel Gutierrez, Campi president.
For January to May, sales stood at 126,273 units, compared with 110,217 units in the same period in 2021.
“The economic recovery from the ripple effects of the pandemic and the overall robust domestic demand are major contributing factors to the continued improvement of the automotive sales performance recorded in May,” Gutierrez said.
He said the industry is optimistic about a sustained economic growth anchored on domestic demand amid the continued containment of the pandemic which are all important to the full recovery of the industry.
Passenger car sales fell 10 percent to 31,546 units in the five-month period from last year but this decline was offset by the 26 percent growth in commercial vehicle sales to 94,727 units.
Toyota Motor Philippines Corp. continued to lead all assemblers with sales of 65,668 units followed by Mitsubishi Motor Philippines Corp. which sold 16,209 units and Nissan Philippines Inc., 9571 units. – Irma Isip
