CAR SALES in February declined by 12% in contrast with the identical month final yr, the Chamber of Automotive Producers of the Philippines, Inc. (CAMPI) and Truck Producers Affiliation (TMA) stated in a report on Thursday.
The joint report stated that the business bought 26,230 automobiles in February, decrease than the 29,790 items in the identical month final yr.
To recall, automotive gross sales in February 2020 confirmed a slight restoration from the disruptions to dealership operations brought on by the Taal Volcano eruption earlier that yr.
Month on month, February gross sales grew by 12.2% from January ranges.
CAMPI President Rommel R. Gutierrez stated in a press release that the business welcomed the month-to-month progress, noting enhancements in gross sales of Asian utility automobiles (AUV) and lightweight vehicles.
Nevertheless, he stated CAMPI stays involved the provisional safeguard duties slapped on automotive imports will harm the business’s restoration.
“Whereas the business sees early indicators of restoration, the provisional import duties, extra so if it turns into definitive, will derail any restoration efforts of the automotive business,” Mr. Gutierrez stated.
“Moderately than limiting imports, a greater incentive scheme have to be crafted to draw investments for native manufacturing of motor automobiles.”
The Division of Commerce and Trade (DTI) imposed provisional safeguard duties on imported vehicles after it discovered a hyperlink between a decline in native business employment and an import surge, based mostly on a petition from an auto elements labor group.
The Safeguard Measures Act or Republic Act No. 8800 permits home producers to ask the federal government to conduct an investigation into their import rivals in the event that they declare to have been injured by extreme imports.
Automotive producers have began elevating costs as they acquire deposits for vehicles affected by the provisional duties whereas the Tariff Fee conducts its personal investigation.
In February, industrial car gross sales, which account for nearly 70% of the market, declined 15.5% to 18,331 items.
Damaged down, gross sales of sunshine industrial automobiles dropped 15.7% to 13,483 items, whereas mild truck gross sales fell 25.9% to 411 items. AUV gross sales slid 14.5% to four,045 items.
Then again, passenger car gross sales dipped 2.four% to 7,899 vehicles in February.
Yr-to-date automotive gross sales fell 7.three% to 49,610 items from 53,513 automobiles in the identical two months final yr.
Business car gross sales declined 11.5% to 34,416 items within the first two months of the yr, whereas passenger automotive gross sales went up three.eight% to 15,194 items.
Toyota Motors Philippines Corp. (TMP) continued to have the biggest market share at 49.84% after promoting 13,074 items. Mitsubishi Motors Corp. had a 19.34% market share with 5,072 items bought, whereas Suzuki Philippines, Inc. bought 1,513 items at 5.77% market share.
In 2020, business automotive gross sales plunged 39.5% to 223,793 items amid the pandemic. — Jenina P. Ibañez