November 14, 2021

The auto industry grew by 23.8 percent from January to October.

The country’s automobile industry is still growing, with sales up 23.8 percent in the first ten months of 2021 compared to the same time last year.

The Chamber of Automotive Manufacturers in the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported a total of 214,186 unit sales from January to October of this year in a joint report released on Thursday.

This is up from the 173,035 units sold during the same time period in 2020.

Year-to-date sales in both the passenger car and commercial vehicle divisions have increased by 29.3 percent and 21.3 percent, respectively.

Month-on-month sales of the local car sector increased by 5.1 percent to 22,581 units in October, up from 21,493 units in September, as restrictions and mobility were eased.

The passenger car market led the way with a 15.9% increase in monthly sales, while commercial vehicle sales were nearly flat at 0.3 percent.

In a statement, CAMPI president Rommel Gutierrez said, “Based on the October 2021 sales performance, the auto industry is robust and will undoubtedly surpass last year’s entire performance.”

However, industry sales fell 9.8% year over year in October 2020, from 25,023 units in October 2019.

“As the country’s economic growth outlook is enhanced, we continue to discuss pertinent topics with the government in order to ensure full recovery of the industry,” Gutierrez added.

The entire sector, including importers, plans to sell 295,400 units by the end of the year.

From January through September of this year, the group of vehicle importers reported selling 43,957 units.

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