Vehicle sales rose 18.4 percent in January to July to 182,687 units from 154,265 units in the same period in 2021.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association yesterday July sales jumped 29.4 percent to 27,813 units compared with 21,498 units recorded in the same month a year ago.
Last month’s sales, however, were 3 percent lower than June’s 28,601 units.
Rommel Gutierrez, Campi president, expressed confidence of the continued recovery of the automotive industry.
“The dole digit growth… mirrors the improvement on the consumer outlook for big-ticket items based on the government report,” Gutierrez said.
He noted the improvement in the availability of jobs and employment, business recovery and containment of the pandemic are important drivers for the overall economic recovery in this post pandemic normalcy.
“This is similarly true for the industry’s recovery as well, “ Gutierrez added.
For the seven-month period, sales of commercial vehicles surged 31 percent to 137,338 units from 104,757 units in the same period in 2021 and accounted for 75 percent of total sales.
Sales of passenger cars, however, declined 8.4 percent to 45,349 units from 49,508 units last year.