Motor vehicle sales bounced back in September, registering a 37 percent increase from the previous month, fuelling hopes for recovery for the remainder of the year.
But year-to-date sales ending the third quarter were still 44.6 percent down compared from a year ago.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI)
and Truck Manufacturers Association released yesterday showed total sales reached 24,523 units in September from 17,906 units sold in August.
From September 2019, sales last month ’s sales were down 23 percent.
CAMPI president Rommel Gutierrez said sales of new vehicles posted double-digit growth rates on all categories except trucks and buses. “But we are still cautious that consumer spending is below pre-pandemic levels due to the evident shifts to essentials goods and services,” Gutierrez said in a statement.
September sales of passenger cars rose 57 percent to 9,721 units from 5,454 units in August. Sales of commercial vehicles in September were up 28 percent to 22,099 units from 12,452 units the previous month.
Sales of light trucks and buses meanwhile surged 36 percent to 388 units from 236 units.
Sales of heavy trucks and buses however were down 46 percent to 131 from 155.
Cumulative sales in the first three quarters of the year stood at 148,012 units compared with 267,364 units in the same period in 2019.
Sales of passenger cars stood at 44,079 units, down 45 percent from 80,317 units las year.
Sales of commercial vehicles were down 44 percent to 103,933 units fro, 187,047 in 2019.