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By 2021, the local auto industry will have grown by 20%

According to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the local automotive sector saw a 20% growth in sales for the whole year of 2021.

Local automakers sold 268,488 vehicles last year, up from 223,793 units sold in 2020.

The passenger car and commercial vehicle segments both increased by double digits.

In 2021, passenger automobile sales increased by 22.4 percent to 85,260 units, up from 69,638 the previous year.

Commercial vehicle sales, on the other hand, increased 18.9% to 183,228 units from 154,155 units a year ago.

In a statement, CAMPI president Rommel Gutierrez stated, “Looking back on last year’s performance, the automobile industry has remained impressively resilient with an overall growth of 20% compared to the same performance a year earlier β€”that is no minor feat indeed.”

Including imported vehicles, the sector expects to sell 295,400 units.

For the first three quarters of 2021, the group of automobile importers registered a total of 43,957 units as of September 2021.

This signifies that sales for the entire industry have topped 300,000 during the previous year.

Car sales in December of last year were the greatest since the coronavirus sickness 2019 pandemic occurred in March 2020, according to Gutierrez.

Last month’s automotive sales totaled 27,846 units, up 0.9 percent from December 2020s 27,596 units and up 5.3 percent from November 2021’s 26,456 units.

“While progress on immunization has brought hope for a brighter prognosis for the wider economy, the industry remains optimistic for a continuing recovery this year from the Covid-19 pandemic downturn,” Gutierrez said. “However, ‘business as normal’ is still improbable since difficulties remain,” Gutierrez said.

Toyota, with 48.3 percent market share, Mitsubishi, with 13.98 percent market share, Ford, with 7.45 percent market share, Nissan, with 7.3 percent market share, and Suzuki, with 7.22 percent market share, are the leading vehicle manufacturers in the country for 2021.

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