CAMPI, TMA report 6.3% growth in Q1

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) overturned the downward sales performance in the first two months of 2022 after reporting an increase when they rounded up the initial quarter of the year.

Based on their joint report, the groups had a combined vehicle sales of 74,754 units in January-March 2022. The total number of units is 6.3 percent higher compared to the 70,312 examples delivered to customers for the same period last year.

Last month, companies belonging to CAMPI-TMA had collectively rolled out 29,685 vehicles to buyers, which is 43.4 percent more than the 20,702 motor vehicles purchased in March 2021. It is also 22.1 percent more when set against the 24,304-unit sales performance in February 2022.

Driving the positive growth is the commercial vehicle (CV) segment, which had year-to-date sales of 56,431 vehicles — and reflecting a 16.5-percent rise over the 48,457 units in 2021.

Last month alone, CV sales had a total of 23,060 vehicles sold, which is 25.4 percent higher when compared to February 2022 sales and is 64.2 percent bigger than the 14,041 units delivered to customers in March 2021.

The light commercial vehicle category provided the biggest contribution for the group’s Q1 2022 sales performance with its 45,629-unit output.

The strong CV sales performance buffered the 16.2-percent sales drop on passenger cars — selling only 18,323 examples in the first quarter of 2022.'

According to CAMPI President Atty. Rommel Gutierrez, “March performance has already reached the industry’s pre-COVID level of sales and the highest monthly sales recorded since the onset of the pandemic.”

“This milestone is very important to the industry as this essentially gives us a positive signal of continued recovery amid the economy and business operations alike starting to normalize,” Gutierrez said.

“The industry remains ‘cautiously optimistic’ for full recovery this year as we just started the second quarter. At this point, it is indeed crucial that we remain on guard against any potential risks in achieving full economic recovery, and pre-pandemic levels of business and consumer confidence at the same time,” he added.

The five best-selling vehicle distributors for the first three months of the year are Toyota Motor Philippines (37,230), Mitsubishi Motors Philippines Corporation (10,346), Nissan Philippines (5,886), Ford Motor Philippines Inc. (4,634) and Suzuki Philippines Inc. (4,556).

Photos from Ruben D. Manahan IV

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