CAMPI, TMA record 29.4-percent sales growth in Jul.

MANILA: Automobile sales increased by 29.4% to 27,813 units in July of this year from 21,498 units in the corresponding month of 2021.

The improvement in consumer expectations for expensive things was seen in the increase in vehicle sales last month, according to a report recently released by the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).

“The double-digit sales growth recorded in July driven by higher demand or new motor vehicles bring a higher degree of confidence for continued recovery of the auto industry,” CAMPI President Rommel Gutierrez said in a statement.

Commercial vehicles, which sold 21,467 units last month, were the main factor in the sales surge. Sales in this sector increased by 49.1% from 14,396 in July of the previous year.

On the other hand, the 10.6% decline in passenger car sales weighed down the industry's overall sales. In July of this year, this segment sold 6,346 units, a decrease from the 7,102 units sold in July of last year.

From January through July of this year, industry sales increased by 18.4% to 182,687 units from 154,265 units during the same period in 2021.

Commercial vehicle sales continue to be the main driver of growth, increasing by 31.1 percent to 137,338 units sold in the first seven months of 2022 from 107,757 units sold in the same period the previous year.

From 49,508 units sold the year before to 45,349 units sold this year, passenger automobile sales fell by 8.4%.

“The improvement in the availability of jobs and employment, business recovery and containment of the pandemic are important driver for overall economic recovery in this post-pandemic normalcy — similarly true for the industry’s recovery as well,” Gutierrez added.

For the past seven months, the industry sales leaders have been Toyota, Mitsubishi, Nissan, Ford and Isuzu. 

Photos from Isuzu Philippines Corp. and Dylan Afuang 

Also read: CAMPI, TMA report shows 26% vehicle sales growth in June