Vehicle sales rose 20 percent in 2021 but missed the target for the year and way off their pre-pandemic performance.
A joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association yesterday showed last year’s sales stood at 268,488 units from 223,793 units in 2020.
This was the lowest since 2015 when sales stood at 288,609 and off the 295,400 target for the year.
Although he described the growth as no small feat, Campi president Rommel Gutierrez said “business as usual is still unlikely as challenges remain at hand.”
“The automotive industry has remained remarkably resilient. The industry remains optimistic for a continued recovery this year from the COVID-19 (new coronavirus disease 2019) pandemic downturn as progress on inoculation has provided hopes for a better outlook for the wider economy,” said Gutierrez in a statement.
The industry suffered a setback in March 2021 when the Department of Trade and Industry imposed a preliminary safeguard duties on passenger cars and light commercial vehicles that dampened sales.
The safeguards case was dismissed in August of the same year.
The industry registered positive growth the past for four consecutive months with sales in December 2021 reaching 27,846 units, the highest monthly sales performance since the pandemic hit the industry in March 2020.
Last month’s sales represented a 5.3-percent increase from 26,456 in November.
Sales of passenger cars jumped 22 percent to 85,260 units, representing a market share of 32 percent, from 69,638 units in 2020.
Sales of commercial vehicles rose 19 percent to 183,228 units, a 68 percent market share, from 154 155 units the previous year.
Toyota Motor Philippines Corp. continued to lead in 2021, the 18th consecutive year, with sales of 129,667 units, an increase of 29.6 percent from 100,019 units in 2020.
The brand widened its market share to 48 percent in 2021, from 44.6 percent the previous year. – Irma Isip
