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In March, sales of local auto assemblers reached pre-Covid levels.

MANILA, Philippines β€” Sales of local vehicle assemblers approached pre-pandemic levels in March, according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA).

Last month, automotive vehicle sales increased by 43.4 percent to 29,685 units, up from 20,702 in March 2021.

Vehicle sales increased by 22.1 percent month over month from 24,304 units in February of last year.

Despite the fact that passenger car sales fell by 0.5 percent last month to 6,625 units, down from 6,661 in March of the previous year.

Commercial vehicle sales increased 64.2 percent to 23,060 units in March 2021, up from 14,041 units the previous month.

According to CAMPI president Rommel Gutierrez, “March performance has already reached the industry’s pre-Covid level of sales, and currently, the highest monthly sales recorded since the commencement of the pandemic based on our statistics.”

This milestone for the industry, according to Gutierrez, shows sustained recovery as business operations and the economy begin to normalize.

Meanwhile, industry sales increased by 6.3 percent from January to March this year, reaching 74,754 units, up from 70,312 units in the first quarter of 2021.

Passenger automobile sales fell 16.2 percent this year to 18,323 units, down from 21,855 units in the same period last year.

Commercial vehicle sales, on the other hand, increased by 16.5 percent to 56,431 units in the same period from 48,457 units.

Commercial vehicles account for 69% of overall industry sales, while passenger automobiles account for 31%.

“As we enter the second quarter, the industry remains ‘cautiously optimistic’ about a full recovery this year. “At this stage, it is critical that we remain vigilant against any potential threats in achieving complete economic recovery while also restoring pre-pandemic levels of business and consumer confidence,” Gutierrez said.

Toyota, Mitsubishi, Nissan, Ford, and Suzuki have led the industry during the first three months of the year.

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