The country’s automotive industry is optimistic of vehicle sales returning to pre-pandemic levels this year as it projects a 10 to 15 percent growth in sales, according to an official of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).
In an interview with reporters, CAMPI president Rommel Gutierrez said they are optimistic that the industry’s sales growth will continue in 2023.
‘January was a good indicator of what is to come this year. I think we are certain to hit the pre-pandemic level this year,’ Guiterrez said.
Latest figures from CAMPI and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales reached 29,499 units in January – a 42.1 percent increase from the 20,765 units in the same period a year ago.
Citing CAMPI-TMA data, Gutierrez said pre-pandemic vehicles sales in 2019 was at around 360,000 units.
‘We are already at 350,000 (level) this year. It’s really a small gap and we are confident that we will more than hit the 2019 level this year,’ Gutierrez said.
The CAMPI president attributed the optimistic outlook to the pent-up demand for new vehicles and improving supply.
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