BusinessWorld
April 14, 2021 | 12:33 am
The auto industry sold 20,702 vehicles in March, up 88% from a year ago. PHILIPPINE STAR/ MICHAEL VARCAS
AUTO SALES in March surged by almost 88% compared with a year earlier as the industry recovers from the impact of the strict lockdown implemented last year.
The auto industry sold 20,702 vehicles in March compared with just 11,029 in the same month last year, a joint report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) released on Tuesday showed.
Vehicle sales in March 2020 were severely affected by closure of nearly all businesses after the government placed Luzon under an enhanced community quarantine to curb the coronavirus outbreak.
Auto sales grow 8 9% in Q1 despite steep decline in March – Manila Bulletin
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Carmakers produced less than half of CARS volume
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New vehicle sales in the Philippines declined by 12% to 26,230 units in February 2021 units from 29,790 units in the same month 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 Philippines was one of the economies in Asia worst hit by the COVID-19 pandemic last year, with GDP shrinking by 9.5% as a result of prolonged lockdowns across the country which held back private consumption and investment, while exports plunged due to weak overseas demand. Vehicle sales plunged by 39.5% to 223,793 units in 2020 from 369,941 units in 2019, based on data supplied by the two associations.
February and year-to-date 2021 car sales
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