NextGen Day

The Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) said on Monday that their total sales for April 2023 grew by 21.8 percent to 30,643 units from 25,149 units in April of last year.

Sales of passenger cars and commercial vehicles increased by double digits every year.

7,317 passenger automobiles were sold last month, 16.9% more than the 6,259 vehicles sold in April 2022.

From 18,890 units in April last year to 23,326 units in April, commercial vehicle sales grew by 23.5 percent.

An important parameter for the auto industry’s sustained expansion is the strengthening economic indicators, which, according to a government assessment, will remain positive through the end of the year. The market availability of a greater choice of motor vehicle models offered by our members, in response to customers’ expanding needs, also properly timed this, said CAMPI President Rommel Gutierrez in a statement.

Sales of CAMPI and TMA increased from January to April 2023 from 99,903 units to 127,927 units, a 28.1 percent increase.

Year-to-date, passenger car sales outpaced commercial vehicle segment growth at 30.5 percent and 27.3 percent, respectively.

During the first four months of 2023, passenger car sales totaled 32,070 units, up from 24,582 units during the same time in 2022.

Compared to the 75,321 units sold during the same period last year, commercial vehicles sold 95,857 units between January and April 2023.

The auto industry is optimistic that it will fully recover from the difficulties brought on by the pandemic. It is well-positioned to grow to major levels, even greater than the pre-pandemic figures, as long as the economic outlook continues to be positive. It is important to note that, in contrast to 2019 levels, the industry has already seen this growth trajectory in the previous four months, Gutierrez continued.

As of the end of April 2023, the top automobile manufacturers in the nation were Toyota, Mitsubishi, Nissan, Ford, and Honda.

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