The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported15,847 sales of new vehicles last month, 11.5 percent lower than the same month a year ago. On a month-on-month basis, this marked a 26.3 percent decline from 21,498 units sold in July.

“The message of this bleak performance is worth noting: stricter lockdown strategy in response to curbing the Covid-19 pandemic affects the auto industry’s recovery this year,” CAMPI president Rommel Gutierrez said in a statement.

The industry is targeting a 20.9 percent growth this year to 295,400 units.

For the first eight months, sales of local vehicle assemblers were still on an uptrend, rising 37.8 percent to 170,112 units.

Sales of passenger cars jumped by 53.1 percent to 54,402 units this year.

Commercial vehicle sales, on the other hand, grew 31.5 percent to 115,710 units.

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Car sales slump in August on Covid lockdown
Source: Filipino Daily Inquirer