CAMPI, TMA report 21.1% vehicle sales drop in March

CAMPI, TMA report 21.1% vehicle sales drop in March

MANILA: The double whammy of the provisional safeguard duty and the imposition of a two-week enhanced community quarantine (ECQ) in the so-called NCR Plus led to a distressing, if unsurprising, decline in vehicle sales in the month of March.

A joint report prepared by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) revealed a significant free-fall of 21.1% in total sales for the month with 20,702 units – versus the 26,230 units moved in February.

In a press statement, CAMPI President Atty Rommel Gutierrez said, “The auto industry felt the slowdown in sales due to the reluctance of buyers with the additional deposit for some imported vehicles because of the provisional safeguard duty. The lockdown also forced dealers to close operations that badly hit the already struggling auto industry.”

Compared to last year though, the March figure is 87.8% higher – although it must be mentioned that the lockdown imposed around that time last year resulted in member companies yielding a consolidated total of 11,029 units.

Despite sales shrinking 29.6% from 13,074 to 9,201 units, Toyota Motor Philippines Corporation continued to lead the pack, cornering 44.44% of the market. In second place is Mitsubishi Motors Philippines Corporation (accounting for 15.45% of units sold) even as its month-on-month sales also fell by 36.9% from 5,072 to 3,198. In third is Ford with 1,705 units (down by 3.6% from 1,769). Completing the top five are Suzuki Philippines, Inc. with 1,626 (up by 7.5% from 1,513); and Nissan Philippines, Inc. with 1,558 units in sales (up by 18.1% from 1,319).

CAMPI/TMA year-to-date sales reached 70,312 units, growing by 8.9% versus the 64,542 total during the same period in 2020.

 

Photo from Volkswagen

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