After the Association of Vehicle Importers and Distributors (AVID) released dismal year-end figures, the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) have now done the same. And echoing AVID’s year-end reports, it paints a bleak picture for the Philippine auto industry as a whole.
Based on the last 2020 joint CAMPI-TMA report for the year, they sold 154,155 units—that’s a 40.9 percent decline from the 260,744 units in 2019. The passenger car (PC) segment dropped 36.2 percent to 69,638 units (from 109,197 units in 2019), while light commercial vehicles and light-duty trucks tanked 43.2 percent, 43.5 percent respectively.
Toyota Motor Philippines remains the country’s biggest carmaker, selling 100,019 units (that’s enough for a 44 percent market share) followed by Mitsubishi Motors Philippines at 37,366 units, and Nissan Philippines in third with 21,751 units.
As a whole, the CAMPI-TMA and AVID figures saw 223,793 units sold for the entire 12 months of 2020 or a 39.5 percent drop compared to the 369,941 joint-figure in 2019.
The resulting figures are close to the projections made by Nomura Research Institute or NRI. A month into the implementation of the Luzon-wide Enhanced Community Quarantine, NRI then predicted that the auto industry will shrink by 37 percent in 2020.
NRI predicts that 2021 figures will grow by just 5.4 percent compared to the 2020 figures.
Source: Car Guides PH
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