Auto Industry sales improve by 26.8% in June 2022
July 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 June reached 28,601 units, equivalent to 26.8% growth compared with 22,550 units recorded in the same period a year ago.
“The automotive industry recovery is progressing as new motor vehicles sales reached an upward growth trajectory in June driven by the pent-up demand from consumers amid the less than ideal economic conditions recorded in the same period”, CAMPI President Atty. Rommel Gutierrez said.
“The industry is optimistic of sustaining motor vehicle sales in its current pre-pandemic trendline in the coming months, albeit challenging amid the ongoing headwinds to the economic recovery, which continue to affect consumer confidence and overall employment”, Atty Gutierrez added.
Year-to-date, CAMPI-TMA sold 154,874 units, equivalent to 16.7% growth compared with the same period last year.
