VEHICLE sales continued to post double-digit growth in March with the automotive industry eyeing to surpass pre-pandemic sales levels this year, data released by the manufacturers showed.
A joint report yesterday by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that total new motor vehicle sales for the month hit 36,880 units.
This is 24.2 percent higher than the 29,685 units sold in March 2022, and 19.3 percent higher than the 30,305 units sold in February this year.
“It is worth noting that the March 2023 sales performance is the second highest monthly performance in a post-pandemic time, after the more than 37,000-unit sales level recorded in December last year,” CAMPI president Rommel Gutierrez said.
The highest number of units sold was seen in commercial vehicles with 26,822 units; followed by light commercial vehicles (LCVs) with 20,644; passenger cars (10,058); Asian utility vehicles (AUVs) (5,205); light trucks (453); and trucks and buses (520).
“Indeed good news as the auto industry continues to hinge on the thriving consumer demand for new motor vehicles, which hopefully will further improve in the coming months,” Gutierrez said.
He added, “In the same way, favorable economic conditions are also an important factor for sustained growth.”
The latest figures bring the first-quarter units sold to 97,824, translating to a 30.1 percent growth from the comparable period in 2022. (GMA Integrated News)
