A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) shows total new motor vehicle sales for April 2023 reached 30,643 units, equivalent to 21.8% increase compared with 25,149 units recorded in the same period a year ago.
CAMPI President Atty Rommel Gutierrez said that “the improving economic indicators, which in fact remains favorable until the end of the year, according to a government report is an essential metric for the continued growth of the auto industry. At the same time, this is perfectly timed with the market availability of a wider range of motor vehicle models being offered by our members, responding to the growing needs of customers.”
“As the economic outlook remains favorable, the auto industry is optimistic to attain full recovery from the pandemic-induced challenges – well-positioned to grow to significant levels, even higher than the pre-pandemic figures. It is worth noting that the industry has already recorded this growth trajectory in the past four months compared with the 2019 levels”, Atty. Gutierrez added.
Year-to-date, CAMPI-TMA sold 127,927 units, equivalent to 28.1% growth compared with the same period a year ago.
