CAMPI, TMA register 23.6% sales growth in May

MANILA: According to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), the total vehicle sales for the month of May reached 22,063 units, 23.6% higher than the 17,843 units sold last April.

In a statement, CAMPI President Atty. Rommel Gutierrez said that the industry was able to achieve the double-digit month-on-month growth when the community quarantine restrictions eased in NCR Plus. The year-on-year growth of about 361% from the 4,788 units sold in the same period last year also reflects an emerging recovery.

“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 reimposed in NCR Plus and in other regions resulting in a tepid consumer confidence,” Gutierrez stated.

CAMPI and TMA have recorded a total year-to-date sales of 110,217 units, which is 58.7% higher versus the same period last year.

Photo from Volkswagen

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