New vehicle sales in the Philippines continued to fall sharply in November 2020, by almost 33% to 23,162 units from 34,465 units in the same month of last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).
The data did not include non-affiliated brands such as Hyundai, Kia, GM and Subaru which together accounted for around 11% of the total vehicle market last year.
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The Philippines is one of the countries in Asia worst hit by the COVID-19 pandemic, with GDP continuing to decline sharply in the third quarter by 11.5% year on year following an almost 17% contraction in the second quarter. Vehicle sales declined for the ninth consecutive in November with consumer spending also held back by several strong typhoons which brought severe flooding in key parts of the country last month.
In the first 11 months of the year, the vehicle market shrank by almost 42% to 196,197 units from 336,226 units in the same period of last year, with passenger car sales also falling by over 39% to 60,857 units while commercial vehicle sales were down by close to 43% at 135,340 units.
CAMPI president Rommel Gutierrez said the industry needs a strong performance in December to reach the 240,000 unit forecast by the two associations for the full year, including aggressive sales promotions by dealers.
