Car sales in Philippines up by 31.3 pct in 2022-Xinhua

Car sales in Philippines up by 31.3 pct in 2022

Source: Xinhua| 2023-01-12 13:57:30|Editor: huaxia

MANILA, Jan. 12 (Xinhua) -- Car sales in the Philippines rose by 31.3 percent in 2022 to over 350,000 units, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) has said.

CAMPI President Rommel Gutierrez Wednesday told local media that the number of cars sold in 2022 is "strong evidence that the industry has recovered from the impact of the pandemic and other external challenges."

"The continued expansion of the economy and creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year. Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles," he added.

The report said that all vehicle segments and categories posted positive growth, except for large trucks and buses, which declined by 21.1 percent.

The commercial vehicle segment boosted sales by a 45.6 percent increase to 266,699 units, while the passenger car segment ended with a 0.7 percent growth to 85,897 units.