Car sales free-fall by 63% in March

 MANILA: To be fair, it wasn’t a question of whether the country’s once robust car industry would take a hit, but by how much.

And now we know.

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) jointly reported a sales total of 11,029 units — a hefty 63% plunge compared to the same month last year, when the group tallied 29,790 units.

CAMPI President Atty. Rommel Gutierrez said in a release that “the double-digit negative growth recorded in March 2020 is the weakest monthly performance of the auto industry so far.”

The year-to-date (YTD) total also shows significant decline, with 64,542 units sold compared to 85,388 during the same period in 2019 — a 24.4% dip.

Across CAMPI and TMA member brands, sales were in the red for March 2020.

Notably, though, Toyota Motors Philippines was still able to sell 4,523 vehicles in March to lead all companies. However, this figure  reflects a 63.2% contraction vs. February 2020 and a 65% dip vs. March 2019. Mitsubishi Motors Philippines Corporation, in second place, sold 1,751 vehicles in March — down 55.6% vs. February 2020 and down 62% vs. March 2019. Completing the top five auto brands YTD are (in order) Nissan, Honda, and Ford.

The executive attributed the sales plunge to the shutdown of dealerships in the second half of March as quarantine measures were put in effect over Luzon to curb the spread of COVID-19.

“The impact of the COVID-19 pandemic could already be felt as early as March. We will continue to assess further effect as the community quarantine continues to be in place,” Gutierrez said. “Indeed, challenging times ahead for the industry. For now, the industry remains hopeful for the containment of the virus at the soonest possible time while being resilient amid this crisis.”

When compared to the first quarter of last year, 2020 continues to disappoint, with a double-digit negative growth of 65.7% from the 32,173 units sold in the same period last year. Year to date, CAMPI/TMP members have moved 64,542 units, a 24.4% decline compared to the 2019 figure.

Photo from the Department of Transportation

Also read: How COVID-19 is crippling the auto industry