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Philippine sales surge in April from depressed levels

New vehicle sales in the Philippines rebounded to 17,843 units in April 2021 units compared with just 133 in the same month last year when the economy was shut down to help slow the spread of the COVID-19 pandemic, 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 market remained well below pre-pandemic levels, however, compared with a total of 25,799 vehicles sold in the same month of 2019. The economy contracted by a worse-than-expected 4.2% in the first quarter of 2021, with consumer and business sentiment affected by a resurgence of COVID-19 infections and the slow rollout of vaccines in the country. This was the fifth consecutive quarter of economic decline, after GDP shrank by 9.5% last year as a result of prolonged lockdowns which held back private consumption and investment.

Imported vehicle sales up 7% in Q1

Imported vehicle sales up 7% in Q1
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