“The economic recovery from the ripple effects of the pandemic and the overall robust domestic demand are major contributing factors to the continued improvement of the automotive sales performance recorded in May,” said CAMPI president Rommel- Read more👇
The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report the improving economy and business conditions bolstered sales in May.
“Based on our data, the industry has already recorded double-digit percentage growths for three consecutive months on a year-over-year basis, indicating that recovery is underway,” he said. The commercial vehicle segment posted a growth of 26 percent to 94,727 units from 75,193 units, while passenger car sales fell 9.9 percent to 31,546 from 35,024 units.
Toyota Motor Philippines Corp. remained the market leader with a share of 62 percent in May, followed by Mitsubishi Motor Philippines with 12.84 percent.
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