Auto Industry sales improve by 32.4% in November 2022
December 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 November reached 35,037 units, equivalent to 32.4% growth compared with 26,456 units recorded in the same period a year ago.
“The auto sales performance has been improving, recording double-digit growths for nine successive months. With the continued growing consumer demand for new motor vehicles, the industry is convinced and confident in exceeding its sales forecast of 336,000 this year”, CAMPI President Atty. Rommel Gutierrez said.
“The automotive industry underscores the importance of pent-up demand from consumers supported by continued economic recovery, boosting business and consumer confidence. These, alongside the containment of the pandemic, are significant factors towards sustained growth”, Atty. Gutierrez added.
Year-to-date, CAMPI-TMA sold 315,337 units, equivalent to 31% growth compared with the same period last year.
