Vehicle sales jumped 59 percent in the first five months of the year on continued monthly rebound.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association showed total vehicle sales for January to May stood at 110,217 units from 69,463 units in the same period in 2020 after last month’s sales surged to 22,062 units.
That represented an increase of 24 percent from 17,843 units in April and 361 percent from 4,788 units in May 2020 when the country was still under a strict lockdown.
Five-month sales across categories registered growth.
Commercial vehicles sold 75,193 units in the five-month period, a 50-percent increase from a year ago and 72 percent of total.
The category was bannered by light commercial vehicles which sold 38,497 units.
Passenger car sales surged 82 percent to 35,024 units from 19, 201 units a year ago.
CAMPI president Rommel Gutierrez said the industry welcomed the double-digit month-on-month growth amid the shift to the more relaxed quarantine restrictions in NCR plus, among other regions.
Gutierrez said the year-on-year growth shows a nascent recovery of sales.
“The industry remains optimistic of a nascent recovery but at the same time on guard for any downside risks of the pandemic particularly if lockdowns are reimposed in NCR plus and in other regions resulting in a tepid consumer confidence,” he added. – Irma Isip
