Vehicle sales increased 2 percent to 25,023 units in October 2020 from 24,523 units sold in September, the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report Monday.
CAMPI president Rommel Gutierrez said the growth, albeit small, is still positive for the industry. Both groups welcomed the slight sales uptick which was the highest both groups achieved since the start of the pandemic in March.
“We are on track to achieve our revised sales forecast of 240,000 units—the baseline for our medium-term recovery plan,” Gutierrez said.
Data showed that total sales in the first nine months reached 173,035 units, down 42.7 percent from 301,761 delivered in the same period in 2019.
Sales of passenger cars declined 41.3 percent to 53,067 units from 90,400 units, while demand for commercial vehicles sales declined by 41.3 percent to 119,968 units from 211,361 units.