Auto sales surge 30% in H1

By Andrea E. San Juan @andreasanjuan

A joint report released by Campi and the Truck Manufacturers Association (TMA) showed vehicle sales in January to June jumped by 30.7 percent to 202,415 units from the 154,874 units recorded in the same period a year ago.

According to Campi President Rommel Gutierrez, the performance of Campi-TMA in the first half “sends a strong signal of sustained optimism for the industry as we welcome the second half of the year.”

As the industry continued to grow on a monthly basis, Gutierrez said the automotive sector has “high hopes of achieving or even exceeding its sales target for this year.”

Last March, he said members of Campi and TMA are optimistic that vehicle sales would expand by 10 to 15 percent and hit the 395,000-unit mark this year. The auto industry recorded sales of 352,596 units last year. In the month of June alone, members of Campi-TMA sold 36,311 units. On a month-on-month basis, this is 4.9 percent lower than the 38,177 units sold in May. On a year-on-year basis, the figure was 27 percent higher than the 28,601 units posted in 2022.

Gutierrez said the double-digit growth in June is a “reflection of improved consumer spending for big-ticket items amid the significant market for new motor vehicle sales,” which he said is the main growth anchor of the industry.

“Rightfully so,demand for motor vehicles that respond to the needs of the customers will yield strong gains for the industry.”

In terms of vehicle segments, data from Campi-TMA indicated that sales of light commercial vehicle jumped by 32.3 percent yearon-year; commercial vehicle, 29.2 percent; light trucks, 24.9 percent; passenger car, 20.5 percent; multipurpose vehicle, 20 percent; heavy trucks and buses, 5.5 percent; while medium trucks and buses declined by 0.7 percent.

Toyota Motor Philippines Corp. led year-to-date sales with 93,575 units, followed by Mitsubishi Motors Philippines Corp. with 37,001 units, and Ford Motor Company Phils. Inc. with 13,838 units.