CAMPI-TMA Feb. 2023 sales up by 34%

After nearly breaching the 30,000-sales last January, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) pushed for stronger sales output in less calendar days.

Based on their joint report, the two groups delivered 30,905 examples to clients for the full month of February —the shortest month of the year. The output is 4.8-percent higher compared to the January 2023 sales of 29,499 units and 27.2-percent more than the 24,304 vehicles sold in February 2022.

In year-to-date sales, CAMPI and TMA collectively sold 60,404 units in the first two months of the year — reflecting a 34-percent growth over the same period last year.

The bulk of sales came from the commercial vehicle segment that holds nearly 76-percent market share with its 45,709 units retailed to customers. Meanwhile, models under the groups’ passenger car division form part of the 24.33 percent of the market, thanks to its 14,695-unit contribution.

In a statement, CAMPI President Atty. Rommel Gutierrez said that the year-on-year February numbers is “a clear indicator of a ‘continuously progressing auto industry’ from the course of the pandemic”.   

Further, Gutierrez expressed firm belief that the two groups will group by 10-15 percent, heading towards the 395,000-unit sales mark this year following the 352,596 units recorded last year. 

“Favorable various economic indicators are prevailing, leading to improving the overall outlook of the economy alongside increasing consumer demand for new motor vehicles,” he explained.

CAMPI-TMA’s sales forecast this year is higher than the pre-pandemic levels — only second to 2017 sales performance, a year prior to the implementation of excise tax under the Tax Reform for Acceleration and Inclusion law.

The top five automotive brands in the country for the full two months of 2023 are Toyota (28,299 units sold), Mitsubishi (10,656), Ford (4,171), Nissan (3,535), and Suzuki (2,939).

Photos from Ruben Manahan IV

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