With all the economic doom and gloom because of the COVID-19 pandemic, the motoring industry is experiencing a rebound when it comes to sales. According to a joint report made by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, there is a huge increase in car sales from January to April this year.
Vehicle sales for the first four months of 2021 have increased by 36.3 percent at 88,155 units sold compared to the 64,675 units of the same period last 2020.
Passenger car sales have increased by 54 percent at 27,425 units sold compared to 17,812 units the past year.
Commercial vehicle sales, though significantly less, have also increased by 29.6 percent at 60,730 units sold for the first four months of this year compared to 46,863 units the past year.
A summary of all sales reports around the country have shown a massive 13,315.80 percent increase for the sales of April 2021 alone at 17,843 units compared to the April 2020 total sales of a devastating measly 133 units. This is largely because April 2020 was the period wherein the heightened measures of quarantine were imposed all over the Philippines.
CAMPI president Rommel Gutierrez has stated that this poses a record year-on-year car sales increase since the start of the COVID-19 pandemic. He has said, “The industry anticipated this recovery after the auto sales was severely hit by the pandemic in the same month last year – the sharpest decline in the history of the Philippine automotive industry.”
However, month-on-month sales recorded a drop of 13.8 percent last March caused by the re-imposition of stricter quarantine guidelines in Metro Manila, Laguna, Cavite, Bulacan, and Rizal due to the sudden increase in COVID-19 cases yet again in the country.
Gutierrez has also stated, “Additionally, tighter bank lending continues to dampen the demand for consumer spending, especially for big-ticket items like auto amid the pandemic. The additional deposit due to safeguard measure is burdensome in itself to consumers and industry alike.”
A breakdown of the top three placers of market share for the first four months of 2021 is the following: Toyota Motors Philippines Corp. holds 47.35% with 41,737 units sold, Mitsubishi Motors Philippines Corp. holds 15.54% with 13,696 units sold, and Nissan Philippines Inc. holds 7.06% with 6,221 units sold.