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Published July 13, 2021, 12:21 PM
Motor vehicle sales jumped 56.1 percent in the first semester this year to 132,767 versus 85,041 units in the first six months last year when the government implemented the first hard lockdown policy due to the coronavirus pandemic.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) stated that the automotive industry continued to adjust to the effects of the pandemic.
For the first half this year, the industry reported that the passenger car segment grew the fastest with 77.3 percent increase to 42,406 units from 23,912 units versus the same period last year.
All indicators showed that the domestic motor vehicle industry is moving back to its growth trajectory, based on data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). For the month of May, motor vehicle sales reached 22,062