The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported automotive vehicle sales recovered in the first quarter of the year amid the global health and economic crisis.
Vehicle sales from January to March this year was higher by 8.9 percent compared to January and February 2020 despite being pre-pandemic months, CAMPI and TMA said.
Vehicle sales during the three-month period reached 70,312 units from 64,542 units in the same period last year.
Sales of passenger cars grew double-digit by 22.9 percent to 21,855 units in the first three months of the year from 17,786 in the same period in 2020.
Commercial vehicle sales increased by 3.6 percent to 48,457 units in the January to March period this year from 46,756 units sold in the same months last year.
This is also the first time that the industry registered a growth in both year-to-date and year-on-year sales since the onset of the pandemic.
Photo by PNA