CAMPI, TMA Report Massive Drop in Vehicle Sales
Year-to-date (YTD) automotive vehicle sales dropped to only 199,628 units compared to the 233,115 units sold from the same time last year, according to a joint report submitted by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). The current figure is down 14.4 percent from a year earlier.
Asian Utility Vehicles (AUVs) suffered the biggest decline, dropping 31.2 percent. Passenger cars and light trucks were among the biggest losers as well, each experiencing a 21.1-percent and 21.7-percent drop, respectively.
Only Category IV and V Trucks and Buses were able to enjoy improvement in numbers, with the former growing by 13.1 percent and the latter increasing by 18.3 percent.
Month-to-date sales also saw substantial drop in numbers, with light commercial vehicles (LCV) and Category IV Trucks and Buses as the only categories to experience growth.
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