Copyright FOURIN, Inc. 2022
Philippines: Automobile Sales Fall 40.4% to 248,000 Units in 2020
Automobile sales in the Philippines decreased 40.4% from the previous year to 248,000 units in 2020. Based on the announcements of local automobile industry groups, total sales of the members of Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) dropped 39.5% to 224,000 units, and sales of the members of Association of Vehicle Importers and Distributors, Inc. (AVID) decreased 40.7% to 52,000 units. The size of the Philippine automobile market, 248,000 units as shown at the beginning of this report, is calculated by subtracting the overlap of these two statistics. However, it must be noted that demand sharply declined in 2020 due to the pandemic, going below 300,000 units for the first time in six years.
In the Philippines, the most stringent COVID-19 prevention measures among ASEAN countries have been in place for some time, which has significantly weakened automobile sales in 2020. By automobile type, FOURIN’s estimate shows that passenger vehicles were down 39.1% to 78,000 units and commercial vehicles declined 41.2% to 170,000 units, both segments going down about 40%.