June 14, 2021

In May, the local car industry continued to improve

According to a joint study by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the country’s automotive sector has continued to rebound, with sales increasing in May 2021 compared to the previous month and May 2020.

Last month, the industry organizations sold 22,062 units, a 23.6 percent increase over April 2021 and 360.8 percent increase over May 2020.

The surge in sales, according to CAMPI president Rommel Gutierrez, is due to the relaxation of quarantine rules in the National Capital Region (NCR) Plus, which includes Metro Manila, Bulacan, Cavite, Laguna, and Rizal.

From 5,570 units in April of this year, passenger automobile sales increased by 36.43 percent to 7,599 units in May 2021.

Commercial vehicle sales increased by 17.8% last month, to 14,463 units from 12,273 units in April.

Meanwhile, the industry’s five-month sales increased by 58.7% to 110,217 units this year, up from 69,463 units in 2020.

During this time, both passenger car and commercial vehicle sales increased by double digits.

In the first five months of this year, the passenger vehicle category sold 35,024 units, up 82.4 percent from the 19,201 vehicles sold in the same time last year.

From January to May, commercial vehicle sales grew by 49.6% to 75,193 units, up from 50,262 units in 2020.

Asian utility vehicle sales grew 47.1 percent to 13,908 units in January to May 2021 from 9,458 units the previous year, while light commercial vehicle sales grew 49.4% to 57,510 units this year from 38,497 units the previous year.

Light truck sales climbed by 54 percent year-to-date to 1,917 units from 1,245 units; truck and bus category four sales jumped by 69.6% to 1,335 units from 787 units; and truck and bus category five sales jumped by 90.2 percent to 523 units from 275 units.

“The business is hopeful for a fledgling rebound, but it is also wary of the pandemic’s potential negative consequences, especially if lockdowns are reimposed in NCR Plus and other locations, resulting in shaky consumer confidence,” Gutierrez said.

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