As sales of outsourced automobiles surged in September, vehicle importers are becoming more hopeful as…
Automobile sales increased 64% in September.
According to Tuesday’s report from the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), sales of automobiles increased by 64.2 percent in September 2022 to 35,282 units from 21,493 units in the same month the previous year.
Both the sales of cars and trucks climbed by double digits, by 21.2 percent and 83.1 percent, respectively.
Passenger car sales increased year over year from 6,580 to 7,976, while sales of commercial vehicles increased from 14,913 to 27,306 units.
Sales in the industry increased monthly by 16.9% from 30,185 units in August.
Rommel Gutierrez, president of CAMPI, stated that the sector began to see an increase in demand for new automobiles last month.
Gutierrez said that the automobile industry expects to continue growing in the second half of the year, according to a recent growth prediction of 6.5 percent this year, which is linked to strong domestic demand and the ongoing relaxing of pandemic restrictions.
CAMPI and TMA sales increased by 29.5 percent from January to September of this year to 248,154 units from 191,605 units during the same time the previous year.
Strong sales of commercial vehicles, which increased by 44 percent to 188,096 units from 60,982 units year to begin, have contributed to the expansion.
On the other hand, compared to the first three quarters of 2021, passenger car sales decreased by 1.5 percent to 60,058 units from 60,982 vehicles.
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