Auto Industry sales improve by 42.4% in October 2022
November 1, 2022
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 October reached 32,146 units, equivalent to 42.4% growth compared with 22,581 units recorded in the same period a year ago.
“The continued double-digit growth recorded anew in October is boosting optimism for the automotive industry, further accelerating full recovery this year from the pandemic disruptions”, CAMPI President Atty. Rommel Gutierrez.
“Sustaining this growth trend in the remaining months of the year gives us confidence that the industry will be able to emerge strong, exceeding its forecast speaking from the current business-as-usual standpoint”, Atty Gutierrez added.
Year-to-date, CAMPI-TMA sold 280,300 units, equivalent to 30.9% growth compared with the same period last year.
