The Philippine automotive industry sold nearly 37,500 units in March, lower than the previous month, to bring the year-to-date sales to almost 110,000 units, data released by local manufacturers on Monday showed.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association show that new motor vehicle sales climbed to 37,474 units in March.This is 1.6% higher than the sales in February 2023, bringing the year-to-date sales to 109,606 units to reflect a 12.7% increase from 97,284 units sold in the first quarter of the past year.“YTD sales performance was driven by sustained demand for new vehicles, supported by overall supply improvement.
The group earlier said it expects sales to grow by 9% to 468,000 units this year from the 429,807 units sold in 2023, and this might increase to 500,000 as CAMPI hosts the Philippine International Motor Show later this year.The monthly sales, however, was lower than the 38,072 units sold in February, as declines were reported in the unit sales of four segments — commercial vehicles down 3.8% to 27,347 units, light commercial vehicles down 5.
Campi Truck Manufacturers Association TMA Automotive Industry
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