Sales of motor vehicles recovered with a 5.1-percent month-on-month growth to 22,581 units in October from 21,493 units in September, two industry groups said Thursday.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report that all segments, including the trucks and buses, registered positive month-on-month growth.
“Based on the October 2021 sales performance, the auto industry remains strong and will certainly surpass last year’s overall performance,” said CAMPI president Rommel Gutierrez.
“Likewise, we continue to discuss relevant issues with the government aimed at ensuring full recovery of the industry as the country’s economic growth outlook is upgraded,” he said.
Passenger car sales rose 15.9 percent to 7,626 units in October from 6,580 units in September while those of commercial vehicles improved 0.3 percent to 14,955 units from 14,913 units.
Sales, however, fell 9.8 percent from 25,023 units in October last year. Sales of passenger cars declined 15.2 percent from 8,988 in October 2020 while demand for commercial vehicles dropped 6.7 percent from 16,035 units.
Total sales reached 214,186 units in the first 10 months, up 24.8 percent from 173,035 units in the same period last year.
Passenger cars sold were 29.3 percent higher at 68,608 units compared to 53,067 units sold in 2020. Sales of commercials vehicles went up 21.3 percent to 145,578 units from 119,968 units.
Toyota Motor Philippines Corp. remained the top seller with a market share of 48.31 percent, followed by Mitsubishi Motors Philippines Corp. with 29.9-percent share.
Ford Motor Philippines Inc., Suzuki Phils. Inc. and Nissan Philippines Inc. completed the top five automotive firms with market shares of 7.61 percent, 7.43 percent and 7.06 percent, respectively.