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Vehicle sales up 42.1% in January

Total motor vehicle sales opened the year with a decline from the record seen in December 2022 but with a double-digit growth from January 2022, data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) on Monday.

Joint data from CAMPI and TMA indicated total sales for the month at 29,499 units or 20.8% lower than the record 37,258 seen in December, but it's 42.1% higher than the 20,765 units in January 2022.

“The auto industry is optimistic [about] its continued expansion from the demand-side standpoint driven by the growing domestic consumer market,” CAMPI President Atty. Rommel Gutierrez said in an emailed statement.

“On the other hand, the supply-side challenges are also an important factor that the industry is mindful of, as this may hamper the industry growth,” he added.

Broken down, passenger car sales accounted for 7,506 units, commercial vehicle sales for 21,993 units, Asian utility vehicles (AUVs) with 4,587 units, light commercial vehicles (LCVs) with 16,757 units, Light Trucks with 370 units, and trucks and buses with 279. —Jon Viktor D. Cabuenas/ VAL, GMA Integrated News