Monday, December 11, 2023
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT US
198 Automobile News
No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us
No Result
View All Result
198 Automobile News
No Result
View All Result
Home News

Philippine sales down just 1% in January | Automotive Industry News

by The Editor
February 12, 2021
in News
0
Philippine sales down just 1% in January | Automotive Industry News
Share on FacebookShare on TwitterShare on EMail

[ad_1]

New vehicle sales in the Philippines began to stabilise in January 2021 with total volume down by just 1.4% at 23,380 units from 23,723 units in the same month last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).

The Philippines is one of the countries in Asia worst hit by the COVID-19 pandemic with GDP shrinking by 9.5% last year due to prolonged lockdowns across the country throughout the year and falling exports.

Vehicle sales plunged by 39.5% to 223,793 units in 2020 from 369,941 units in 2019, based on data supplied by the two associations.

Sales of passenger vehicles rose by 11.5% to 7,295 units last month from 6,543 units a year earlier, while commercial vehicle sales were down by 6.4% at 16,085 units from 17,180 units. Toyota sold 10,820 vehicles last month to claim a market share of over 46% while Mitsubishi sold 3,519 units and Nissan 2,322.

CAMPI president Rommel Gutierrez said he was “cautiously optimistic” vehicle demand in the country would continue to improve. But he warned the temporary duty on imports, announced last month and designed to protect the local industry during the pandemic, would likely hold back sales as import prices would inevitably rise from February. 

The share of import sales has increased steadily over the last 15 years following the implementation of the ASEAN Free Trade Agreement with shipments of completely built up vehicles from Thailand and Indonesia in particular rising sharply.

Sales of imported vehicles, including those imported by CAMPI members, now account for around 70% of total vehicle sales in the country compared with 40% in 2006 with brands such as Ford having switched entirely to imports.



[ad_2]

Source link

ShareTweetSend

Related Posts

Food delivery strike in Malaysia today – Grab responds

Food delivery strike in Malaysia today – Grab responds

by The Editor
August 5, 2022
0

Yesterday, it was reported that food delivery riders were set to go on a 24-hour nationwide strike today to protest...

Tesla investors approve stock split; Musk to add factories, Auto News, ET Auto

Tesla investors approve stock split; Musk to add factories, Auto News, ET Auto

by The Editor
August 5, 2022
0

Tesla announced plans for the split in late March when shares were trading over $1,000. It will not affect Tesla's...

FACT OR FICTION: The Sobering Truths Behind Fleet Safety – Webinar

FACT OR FICTION: The Sobering Truths Behind Fleet Safety – Webinar

by The Editor
August 5, 2022
0

August 24, 2022 |11:00 AM PST |Duration: 1 Hr ...

Auction Academy Class Marks a Half Year of Upfront Training – Remarketing

Auction Academy Class Marks a Half Year of Upfront Training – Remarketing

by The Editor
August 4, 2022
0

Auction Academy’s 7th Class Group met in Spokane, Washington for three days of training that included DAA Northwest’s...

Cummins completes acquisition of Meritor, to deliver decarbonized solutions, Auto News, ET Auto

Cummins completes acquisition of Meritor, to deliver decarbonized solutions, Auto News, ET Auto

by The Editor
August 4, 2022
0

New Delhi: Global power and technology leader, Cummins Inc. recently completed the acquisition Meritor, Inc., a leading global supplier of...

2022 Chevrolet Silverado 1500 ZR2 AWD Review & Test Drive : Automotive Addicts

2022 Chevrolet Silverado 1500 ZR2 AWD Review & Test Drive : Automotive Addicts

by The Editor
August 4, 2022
0

Who would have thought that there would be an American truck race where manufacturers are vying for recognition for having...

Load More
Next Post
Sensata fully acquires Lithium Balance | Automotive Industry News

Sensata fully acquires Lithium Balance | Automotive Industry News

Lyft and Toyota to offer hydrogen vehicle rentals | Automotive Industry News

Lyft and Toyota to offer hydrogen vehicle rentals | Automotive Industry News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

No Content Available
Load More
198 Automobile News

Get the latest automotive news and follow the coverage of updates, new release, auctions, deals and and more from the world's top trusted sources.

Follow Us

Categories

  • Auto Auctions
  • Autodeals
  • Blog
  • Brands
  • Business
  • Clubs
  • Global Trends
  • News
  • Reviews
  • Videos

Recent News

CerebrumX’s deep learning platform hints at the future of connected vehicle data

CerebrumX’s deep learning platform hints at the future of connected vehicle data

August 5, 2022
Food delivery strike in Malaysia today – Grab responds

Food delivery strike in Malaysia today – Grab responds

August 5, 2022
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2020 198 Automobile News.

No Result
View All Result
  • Home
  • Videos
  • Business
  • Brands
  • Clubs
  • Ratings & Reviews
  • News
  • Blog
  • Ad
  • Autodeals
  • Auctions
  • Global Trends
  • Contact Us

Copyright © 2020 198 Automobile News.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?