Auto Industry sales improve 33.3% in July 2023
August 1, 2023
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 July 2023 reached 37,086 units, equivalent to 33.3% increase compared with 27,813 units recorded in the same period a year ago.
CAMPI President Atty. Rommel Gutierrez said that “the auto industry is notably going strong despite the consumer spending slowdown attributed to the risks of inflation.”
“In fact, the auto industry is sustaining its positive growth trend as sales of new motor vehicles recorded a continued year-on-year growth for the past 17 consecutive months – since March 2022. The industry hopes to maintain this trend for the year.” Gutierrez added.
Gutierrez said that “the auto industry is truly inspired to expand its product and service offerings to the consumers and businesses alike as seeing this continued growing demand for new motor vehicles is indeed a welcome and significant part of growth development”.
Year-to-date, CAMPI-TMA has sold 239,501 units, up by 31.1% from the prior year.
