Local Car, Truckmakers Enjoy Steady Growth to Start H2 2019
Local car manufacturers group welcomed the second half of 2019 with a slow but steady climb.
Based on the report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), sales grew by 3.16 percent to 205,945 units for the first seven months of the year, as compared to 199,628 roll outs for the same period last year.
July 2019 has 31, 810 units delivered versus the 28,038 units, posting a 13.5 percent growth for the same month last year.
CAMPI President Atty. Rommel Gutierrez attributed the strong sales due to positive factors such as continued and strong sales campaigns and stable supply of units have outweighed the unfavorable effects of the off-peak season to the overall sales growth.
"Historically, July is considered as one of the lean months of the industry. Nonetheless, we are optimistic that if we are able to sustain this growth trend, we will be able to exceed our sales performance of last year," Gutierrez noted.
However, a month-on-month basis, sales performance is slower by measly 0.4 percent against 31,950 units recorded in the previous month.