Vehicle sales cover lost ground, up 32%

(Photo by Analy Labor)
Vehicle sales surged 32.4 percent last November which assemblers and distributors attributed to the continued recovery from the devastation of the pandemic.
It was the ninth straight month that the sale of automobiles posted an increase.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association showed sales for November reached 35,037 units compared to 26,456 units a year ago.
"The sales performance for automobiles has been improving, recording double-digit growths for nine successive months. With the continued growing consumer demand for new motor vehicles, the industry is convinced and confident in exceeding its sales forecast of 336,000 this year," CAMPI president Rommel Gutierrez said.
"The automotive industry underscores the importance of pent-up demand from consumers supported by continued economic recovery, boosting business and consumer confidence. These, alongside the containment of the pandemic, are significant factors towards sustained growth," Gutierrez added.
Year-to-date, CAMPI-TMA sold 315,337 units, equivalent to 31 percent growth compared with the same period last year.
Broken down, the sales made for commercial vehicles led the growth at 43 percent to 26,106 units last month from 18,251 units sold a year ago.
Meanwhile, passenger car sales last month had a modest growth of 8.8 percent year-on-year to 8,931 units from 8,205 units.
On the other hand, of the total sales from January to November, commercial vehicles sold 238,054 units, and passenger cars recorded 77,283 units.
