Auto Industry sales improve by 17% in February 2022
March 1, 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 February 2022 reached 24,304 units, equivalent to 17% growth compared with 20,765 units recorded a month ago.
A year-on-year decline of 7.3% was recorded from the 26,230 units sold in the same period a year ago.
CAMPI President Atty. Rommel Gutierrez said that “the February 2022 sales have regained a double-digit growth amid the improved consumer confidence as the country has shifted to ‘low-risk’ for COVID-19 classification, according to the government report – a welcome development for the industry.”
“The industry is anticipating to see a continued recovery this month as the economy further reopens, downgrading to the least restrictive alert level 1 in major areas including the National Capital Region starting this Month, Atty Gutierrez said.”
“As the economy reopens, the safety and health of the public is paramount to prevent another wave of virus infections and cause disruption anew to the recovery of the industry, which targets to sell 336,000 units this year – a 17% increase from the actual volume last year, Atty Gutierrez added.
Year-to-date, CAMPI-TMA sold 45,069 units, down by 9.2% compared with the same period last year.
