According to a corporate executive on Wednesday, the growth of the electric vehicle (EV) market…
Vehicle builders surpass the 2022 target set by the PH auto industry.
According to the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), total sales in 2022 increased by 31.3 percent to 352,596 units from the 268,488 vehicles sold in 2021.
According to a statement released on Wednesday by CAMPI President Rommel Gutierrez, automakers have already achieved the 336,000 unit national automobile sector objective for 2022.
The importers of vehicles as a group have not yet disclosed their total sales for 2022.
This is a “clear indication that the sector has recovered from the impact of the pandemic and other external problems,” Gutierrez continued. “With this, CAMPI-TMA sales alone have exceeded the whole industry sales target of 336,000 units.”
Local assemblers’ sales were aided by commercial vehicles in 2018, as they increased by 45.6 percent to 266,699 units from 183,228 units in 2021.
On the other hand, sales of passenger cars increased by 0.7 percent, moving 85,897 units in 2022 compared to 85,260 in the year before.
“The ongoing expansion of the economy, and creation of new employment and opportunities is just as critical as ensuring that no pandemic disruption arises afresh this year. However, the sector will continue to profit from the rising consumer demand for new cars, according to Gutierrez.
Sales for December 2022 alone, on the other hand, increased by 33.8 percent to 37,259 units from 27,846 units in the corresponding month of 2021.
“In the meantime, it’s important to note that the 37,000-level figure was first noted in 2017. Achieving it once more gives us renewed hope for an improved year for the auto industry, he continued.
Sales in the passenger car and commercial vehicle divisions increased by 2% and 47.7%, respectively.
Sales of passenger automobiles increased to 8,614 units in December 2022 from 8,447 units the previous year, while sales of commercial vehicles rose to 28,645 units from 19,399 units during the same time.
Toyota had a market share of 49 percent last year, followed by Mitsubishi with a 15 percent share, Ford with a 7 percent share, Nissan with a 6 percent share, and Suzuki with a 5.7 percent share.
Cebuano English Filipino
We appreciate your reading. You may also consider sharing it with others.
Please comment below if you found this post interesting.
Be one of our DONOR / SPONSOR to support NextGenDay news website.