June car sales accelerate 225%
This positive growth shows early signs that consumer demand for new cars is starting to improve albeit slowly. The auto industry recovery may take time as vehicle sales still remain a challenge
Automotive companies sold 15,578 units in June 2020, a surge of 225.4 percent from the 4,788 units sold in May as consumer demand starts to pick up particularly for commercial vehicles. The various car firms, however, remain cautiously optimistic as recovery remains uncertain.
In a joint report on Monday, Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association’s (CAMPI-TMA) data showed June sales were still down 51.2 percent compared to 31,950 in the same month last year.
As of the first six months, car sales are likewise down 51.2 percent to 85,041 units from 174,135 units sold in the same period in 2019.
“This positive growth shows early signs that consumer demand for new cars is starting to improve albeit slowly. The auto industry recovery may take time as vehicle sales still remain a challenge,” CAMPI president, Atty. Rommel Gutierrez, said in the report.
“The industry is also maximizing digital platforms as one of the avenues to strengthen campaigns for our sales promotional. This is one of the strategies to adapt to the new normal environment.”
For the first six months, commercial vehicles have been driving growth for the industry with 61,129 units sold, down 49.8 percent from 121,717 units last year. Light commercial vehicles followed with 53.1 percent lower sales at 46,305 units.
Passenger cars booked a 54.4 percent dip in sales at 23,912 units while AUV sales were 26.7 percent less at 11,831 units. Sales of light trucks saw the steepest decline, by 57.7 percent to 1,599 units, while sales of category four and five trucks and buses were down 54.9 percent and 49.2 percent to 1,057 and 337 units, respectively.
Industry leader Toyota Motors Philippines Corp.’s sales were down 51.5 percent to 35,648 units year-to-date, but June sales rose 207.9 percent to 7,485 units.
Second biggest car firm Mitsubishi Motors Philippines Corp. also saw 273 percent higher sales in June at 2,268 units, bringing six-month sales to 15,133, down 50.3 percent.
Nissan Philippines Inc.’s car sales in June surged 465.4 percent to 1,012 units, or 9,708 units from January to June, down 53.9 percent. Suzuki Phils. Inc. and Ford Motor Co. Phils. Inc. were fourth and fifth biggest sellers, registering 422.7 percent to
1,495 units 89.9 percent to
961 units, respectively.