PHILIPPINE automotive unit sales posted a monthly decline in June but continued to record a double-digit annual increase, data released by local manufacturers on Tuesday showed.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMI) showed that total new motor vehicle sales for the month hit 36,311 units.
This is 4.9% lower than the 38,177 units sold in May, but 27.0% higher than the 28,601 units sold in June 2022.
âThe auto industry has maintained double-digit positive growth anew by 27% in June â a reflection of improved consumer spending for big-ticket items amidst the significant market for new motor vehicle sales, the main growth anchor of the industry,â CAMPI president Atty. Rommel Gutierrez said in an accompanying statement.
âRightfully so, demand for motor vehicles that respond to the needs of the customers will yield strong gains for the industry,â he added.
The highest number of units sold was seen in commercial vehicles with 27,325 units, followed by light commercial vehicles (LCVs) with 21,555 units, and passenger cars with 8,986 units.
These were followed by Asian utility vehicles (AUVs) with 4,864 units, light trucks with 546 units, and trucks and buses with 360 units.
The latest figures brought the year-to-date sales to 202,415 units, 30.7% higher than the 154,874 in the comparable period in 2022.
According to Gutierrez, the year-to-date figure sends a âstrong signal of sustained optimismâ ahead of the second half of the year.
âMaintaining this level of growth on a monthly basis, the industry has indeed high hopes of achieving or even exceeding its sales target for this year,â he said.
The manufacturers earlier this year said they are optimistic about recording 10% to 15% growth this year from the 352,596 units sold in the past year. (GMA Integrated News)
