Vehicle sales rose 225 percent in June from May but first half sales dropped 51 percent.
Industry remains cautiously optimistic for the rest of the year.
In a joint report, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA), said total vehicle sales totalled 15,578 units in June from 4,788 units the previous month.
Compared with June 2019 when industry sold 31,950, the figures was down 51 percent.
First half sales totalled 85,041 units from 174,135 units in the same period in 2019 with all segments posting declines.
Rommel Gutierrez, president of CAMPI said, the industry remains cautiously optimistic amid the prevalent social and economic risks and uncertainties the country is facing.
“The positive growth (in June from May) shows early signs consumer demand for new cars is starting to improve albeit slowly. The recovery of the automotive industry may take time as vehicle sales remain a challenge,” Gutierrez said in a statement.
He said the industry is maximizing digital platforms as avenues to strengthen campaigns and boost sales.
“This is one of the strategies to adapt to the new normal environment,” Gutierrez said.
In the first half, sales of passenger cars declined 54 percent to 23,912 from 52,418 units and accounted for 30 percent of total sales.
Bulk of sales are commercial vehicles, which sold 61,129 units, down 50 percent from 121,717 units a year ago .
The light commercial vehicle subsegment registered a 53-percent decline in sales to 46,305 units from 98,783 units a year ago.
Sales of Asian utility vehicles fell 27 percent to 11,831 units from 16,147 units last year.
The biggest decline of 58 percent was registered by light trucks with 1,599 units sold, from 3,778 units in 2019.
Sales of trucks and buses dropped 53 percent to 1,414 units from 3,009.
Toyota Motor Philippines Corp. continued to lead all assemblers in terms of sales with 35,648 units or a 42-percent market share. This is 51.5 percent lower than the 73,454 units sold last year.
At second is Mitsubishi Motor Philippines Corp. with 18 percent market share with 15,133 units sold, down 50 percent from 30,470 units a year ago.
Nissan Philippines Inc. retained its third spot, selling 9,703 unitd, a decline of 54 percent from 21,060 units last year and an 11 percent market share. (I. Isip)
