Philippines’ auto sales in March 2021 stood at 20,702 units, up by 87.7pc as compared to 11,029 units sold in March 2020, according to data released by the Chamber of Automotive Manufacturers of the Philippines, Inc (CAMPI) and the Truck Manufacturers Association (TMA).
Compared to 26,230 units sold in the prior month (Feb 2021), however, the vehicle sales fell by 21.1pc in March.
CAMPI said that the auto sales fell from the previous month due to the reluctance of buyers with the additional deposit for some imported vehicles because of the provisional safeguard duty.
The lockdown also forced dealers to close operations that badly hit the already struggling auto industry, the association added.
Passenger car sales in March more than doubled by 111.5pc to 6,661 units from 3,150 units sold in the same month the previous year, while commercial vehicle (CV) sales stood at 14,041 units, up by 78.2pc as compared to 7,879 units sold in the year before.
The country’s auto sales in the first quarter of the year (Jan-Mar, 2021) grew by 8.9pc to 70,312 units as compared to 64,542 units sold in the prior-year period.
The sales for passenger cars stood at 21,855 units, up by 22.9pc from 17,786 units sold in the same period in 2020, while commercial vehicle sales rose by 3.6pc to 48,457 units as compared to 46,756 units sold in the prior-year period.