Auto Industry sales improve by 29.4% in July 2022
August 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 July reached 27,813 units, equivalent to 29.4% growth compared with 21,498 units recorded in the same period a year ago.
“The double-digit sales growth recorded in July driven by higher demand for new motor vehicles brings a high degree of confidence for continued recovery of the auto industry. This mirrors the improvement on the consumer outlook for big-ticket items based on the government report, CAMPI President Atty. Rommel Gutierrez said.
“The improvement in the availability of jobs and employment, business recovery and containment of the pandemic are important drivers for the overall economic recovery in this post pandemic normalcy – similarly true for the industry’s recovery as well, Atty. Gutierrez added.
Year-to-date, CAMPI-TMA sold 182,687 units, equivalent to 18.4% growth compared with the same period last year.
