Auto Industry sales improve by 43.4% in March 2022
April 2, 2022
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) shows total vehicle sales for March 2022 reached 29,685 units, equivalent to 43.4% growth compared with 20,702 units recorded in the same period a year ago.
A month-on-month improvement is also seen posting a 22.1% growth from 24,304 units sold in February.
CAMPI President Atty. Rommel Gutierrez said that the “March performance has already reached the industry’s pre-COVID level of sales – and now the highest monthly sales recorded since the onset of the pandemic based on our data. This milestone is very important to the industry as this essentially gives us a positive signal of continued recovery amid the economy and business operations alike starting to normalize.”
“The industry remains ‘cautiously optimistic’ for full recovery this year as we just started the second quarter. At this point, it is indeed crucial that we remain on guard against any potential risks in achieving full economic recovery, and pre-pandemic levels of business and consumer confidence at the same time”, Atty Gutierrez added.
Year-to-date, CAMPI-TMA sold 74,754 units, up by 6.3% compared with the same period last year.
