Motor vehicle sales jumped 360.8 percent in May to 22,062 units from 4,788 units a year ago, the highest increase since the pandemic broke in March 2020, two industry groups said Monday.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report the sales in May also increased 23.6 percent from 17,843 units in April.
CAMPI president Rommel Gutierrez said the industry welcomed the double-digit month-on-month growth amid the shift to the more relaxed quarantine restrictions in “NCR Plus” and other regions.
“The industry remains optimistic of a nascent recovery but at the same time on guard for any downside risks of the pandemic particularly if lockdowns are re-imposed in NCR Plus and in other regions resulting in a tepid consumer confidence,” Gutierrez said.
Passenger car sales grew by 36.43 percent to 7,599 units in May from 4,570 in April and 447.1 percent from 1,389 units in same month last year.
Commercial vehicle sales were also up by 17.8 percent to 14,473 units from 12,273 units in April and by 325.5 percent from 3,299 units, year-on-year.
Sales in the first five months grew by 58.7 percent to 110,217 units from 79,463 units delivered in the same period in 2020.
Sold passenger cars increased by 82.4 percent to 35,024 units from 18,201 units in 2020 while demand for commercial vehicles went up by 49.6 percent to 75,193 units from 50,262 units.
Toyota Motors Philippines Corp. continued to lead sales in the first five months with a market share of 47.65 percent, followed by Mitsubishi Motors Philippines Corp. with 15.36 percent. Ford Motor Company Phils. Inc. was third with 7.48 percent.
Suzuki Phils. Inc. and Nissan Philippines Inc. rounded up the top five sellers in the five-month period with 7.43 and 6.8 percent, respectively.