Car sales up 40% in April

CAR SALES INCREASE A Nissan dealership along Pasong Tamo Extension, Makati. The Philippine Chamber of Automobile Manufacturers Inc. and the Association of Truck Manufacturers said Thursday, May 12, 2022 that car sales continued to rise in April. PHOTO BY AARON RONQUILLO

Car sales continued to grow in April, but at a slower pace from March’s all-time high, the Philippine Chamber of Automobile Manufacturers Inc. (Campi) and the Truck Manufacturers Association (TMA) said on Thursday.

In a joint statement, Campi and TMA said auto sales during the month reached 25,149 units, up 40.9% from 17,843 units a year ago.

Sales growth was lower than the 43% seen in March.

Month-over-month car sales also contracted 15.3% from 29,685 units.

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Passenger car sales increased 12.4% from 5,570 units to 6,259 units in 2021.

Commercial vehicle sales also rose 53.9% to 18,890 units from 12,273 units in the same month last year.

“April’s sales performance reflects the continued containment of the pandemic, supported by improved consumer demand for big ticket items compared to last year,” Campi Chairman Rommel said. Gutierrez.

“The government’s economic growth target of 7-9% this year, driven by overall improvement in employment and domestic demand, will play a vital role in the economy and the recovery of industry,” added Gutierrez.

Year-to-date car sales have increased by 13.3% to 99,903 units from 88,155 units in 2021.

Toyota Motors Philippines Corp. continued to dominate the market with a 50.9% market share year-to-date, selling 50,945 units, compared to 41,737 units a year ago.

Mitsubishi Motors Philippines Corp. ranked second with a market share of 13.28%. It sold 13,270 units, down 3.1% from 13,696 units the previous year.

Nissan Philippines Inc., meanwhile, gained a market share of 7.59%. It sold 7,586 units, up 21.9% from 6,221 units a year ago.