Receive our newsletter – data, insights and analysis delivered to you
  1. News
January 14, 2022

Philippine sales flat in December

The rebound slowed significantly.

By Graeme Roberts

The Philippine new vehicle market improved marginally in December 2021 with sales rising to 27,846 units, from weak year-earlier sales of 27,596, 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 rebound from the low last August, after the government began to ease covid-related restrictions as the country began to recover from covid Delta wave, has slowed significantly.

In December, both businesses and consumers turned more cautious as news emerged that the Omicron variant had begun to spread across the region.

The associations’ data showed vehicle sales increased by 20% to 268,488 units last year after falling by almost 40% to 223,793 in 2020, with passenger vehicle sales growing by 22% to 85,260 and commercial vehicle sales up by 19% at 183,228.

Toyota Motor Philippines sold 129,667 vehicles last year, followed by Mitsubishi Motors with 37,535 units and Ford at 20,010 units.

The data did not include members of the Association of Vehicle Importers and Distributors (AVID), which reported a 26% increase in combined sales to 43,957 units in the first nine months of the year.

Content from our partners
Collaboration: the key to designing better EV battery packs
Navigating the lithium battery value chain
Teamwork: Making the EV dream reality

CAMPI president Rommel Gutierrez said in a statement: “The industry remains optimistic of a continued recovery in 2022 from the COVID-19 pandemic downturn, as progress on inoculation has provided hopes for a better outlook for the wider economy.”

He added: “Business-as-usual is still unlikely as challenges remain.”

Related Companies

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU