CAMPI, TMA register ‘tepid’ 2% sales growth in Oct.

MANILA: The auto industry just managed to come away with growth last October. A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) revealed a consolidated sales total of 25,023 units — exactly 500 units above September’s 24,523 sum.

Describing the October performance as “tepid,” CAMPI President Atty. Rommel Gutierrez nonetheless said in a release that it is still “positive progress for the industry,” given that this is the “highest sales volume since the start of the pandemic.”

As the group attained a YTD total of 173,035, Atty. Gutierrez expressed confidence that the revised sales target of 240,000 will be met by yearend. This is the “baseline for our medium-term recovery plan,” he declared.

Toyota Motor Philippines Corporation continues to lead YTD sales with 11,666 units sold last month — up 9.5% over September’s 10,657 total. It accounted for 46.62% of sales. Mitsubishi Motors Philippines Corporation ranked second with 3,663 units sold — 32% lower than the previous month’s 5,384 units. Still, the company cornered 14.64% of the market.

The Nissan Philippines, Inc. sales total in October grew by 26.6% (from 1,866 to 2,363 units) versus the previous month, and represented 9.44% of total sales — good for third place.

Completing the top five YTD are Suzuki Philippines, Inc. with 1,830 units sold (up 7.3% month-on-month) and cornering 7.31% of sales; and Ford Motor Company Philippines, Inc. which sold 2,143 vehicles last month (up 36.2%) and 8.56% of total October sales.

CAMPI stated it is “still very cautious about (the) industry outlook. This is considering the pending safeguard investigation on imported automobiles, which may soon be decided upon by the Department of Trade and Industry.” Atty. Gutierrez underscored,” The industry is in a very vulnerable state right now and the imposition of safeguard measure will only limit our ability to navigate the crisis.”

Compared to October 2019’s 34,397 total units sold, last month’s output is 27.3% short.

Photo from Volkswagen

Also read: CAMPI, TMA report 37% auto sales rebound in Sept.