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 February 2023 reached 30,905 units, equivalent to 27.2% increase compared with 24,304 units recorded in the same period a year ago.
CAMPI President Atty. Rommel Gutierrez said that “the industry demonstrated anew positive sales growth of 27.2% in February 2023 on a year-on-year basis – a clear indicator of a ‘continuously progressing auto industry’ from the course of the pandemic”.
Atty. Gutierrez also said that “members of CAMPI and TMA remain optimistic that it will further grow by 10% to 15%, heading towards the 395,000-unit sales mark this 2023 from the actual sales of 352,596 units recorded last year. Favorable various economic indicators are prevailing, leading to improving the overall outlook of the economy alongside increasing consumer demand for new motor vehicles.”
The CAMPI-TMA sales forecast this year is higher than the pre-pandemic levels, only second to 2017 sales performance, a year prior to the implementation of excise tax under the TRAIN law.
Year-to-date, CAMPI-TMA sold 60,404 units, equivalent to 34% growth compared with the same period last year.
Note: Total industry volume (TIV) forecast is 408,300 units, which includes other AVID exclusive members and MG Motors Phils. (Morris Garages). This is 10.4% higher than the actual TIV sales of 369,981 units in 2022.
