The Philippines’ new vehicle sales in February 2021 stood at 26,230 units, down by 12pc from 29,790 units sold in Feb 2020 but up by 12.2pc as compared to 23,380 units in the prior month (Jan 2021), according to data released by the Chamber of Automotive Manufacturers of the Philippines, Inc (CAMPI) and the Truck Manufacturers Association (TMA) on Thursday.
Of total sales in February, passenger car sales fell by 2.4pc to 7,899 units, while sales of commercial vehicle (CV) stood at 18,331 units, down by 15.5pc compared to same month last year.
Jan-Feb sales
In the first two months of the year (Jan-Feb, 2021), the country’s auto declined by 7.3pc to 49,610 units as compared to 53,513 units in the same period in 2020.
In the Jan-Feb period, passenger car sales grew by 3.8pc to 15,194 units as compared to 14,636 units sold in the prior-year period, while CV sales fell by 11.5pc to 34,416 units from 38,877 units in the same period in 2020.
Outlook
CAMPI said it is concerned with the impact of the safeguard duty imposed by the government on imported vehicles on the recovery of the country’s auto sector. While the auto industry is witnessing early signs of recovery, if the import duties become definitive, it will derail any recovery efforts, the association said.
The association has instead called for a better incentive scheme to attract investments for domestic vehicle production.
The Philippines has imposed a 200-day safeguard duty on imported passenger cars and CVs from January 20. The authorities have, however, said that the decision to levy duties on imported cars and CVs aims to stop further damage to the local auto sector due to the influx of imported cars in the domestic market.