Car and truckmakers saw their sales decline by nearly 10 percent in October from the same month a year ago, but they remained confident that this year will be better for the industry than 2020. According to data released by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association on Thursday, combined sales reached 22,581 units in October, 9.8 percent lower than the 25,023 units sold in October last year.
The groups, which account for the bulk of the local auto industry, nevertheless still performed better than in September 2021, posting a month-over-month increase of 5.1 percent. In the past 10 months, they sold 214,186 units, a 23.8-percent increase from the same period in 2020. “Based on the October 2021 sales performance, the auto industry remains strong and will certainly surpass last year’s overall performance,” said Campi president Rommel Gutierrez in a statement. This year, the target is to sell 295,400 units, 20.9-percent more than 2020 sales, which were bludgeoned by the COVID-19 pandemic.
From January to October, Toyota cornered 48.31 percent of the market after selling 103,475 units. It was followed by Mitsubishi Motors Philippines Corp., 13.8 percent; and Ford Motor Company Philippines, Inc., 7.61 percent.