Carmakers hopeful of finishing year with 20% sales growth | Inquirer Business
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CONSUMER CONFIDENCE, ELECTIONS TO BOOST 2022 PERFORMANCE

Carmakers hopeful of finishing year with 20% sales growth

/ 05:06 AM December 27, 2021
Rommel Gutierrez

Rommel Gutierrez —contributed photo

The Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) is expecting to end the year with a growth of around 20 percent, which they hope to raise even further in 2022.

“By year-end, [we] expect around a 20-percent [growth],” said Campi president Rommel Gutierrez in a Viber message when asked for the group’s year-end target.

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“Next year, [it would be] a range of 20 to 30 percent,” he added.

Gutierrez, an executive of market leader Toyota Motors, said growth would be driven by the election season, the decline in new COVID-19 infections, improving consumer confidence and the introduction of new models.

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Campi, together with the Truck Manufacturers Association, has already exceeded last November 2021 total sales last year.

For the period of January to November, the two groups sold 240,642 units, higher than the 223,793 units sold in 2020, according to official data.

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TAGS: carmakers, Chamber of Automotive Manufacturers of the Philippines Inc. (Campi), Inquirer Project Rebound, sales growth
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