The public's appetite for gas guzzlers did not show signs of slowing down as local car manufacturers saw sales fatten in March.

Total motor vehicle sales in March leapfrogged 29% year-on-year to 36,880 units in March, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed on Wednesday.

Sales in March proved to be higher than the preceding month, benefitting largely from the domestic economy's full reopening. The industry was roiled by headwinds, as sales waxed and waned, since the pandemic ravaged the global economy in 2020.

'It is worth noting that the March 2023 sales performance is the second highest monthly performance in a post-pandemic time, after the more than 37,000-unit sales level recorded in December last year,' said CAMPI President Rommel Gutierrez.

First-quarter sales amounted to 97,824 units, expanding 30.1% on-year, CAMPI noted.

'In the same way, favorable economic conditions are also an important driving factor for sustained growth,' Gutierrez added.

Vehicle sales are often used as barometer of economic strength. The central bank, for instance, closely follows this gauge to measure consumer appetite for durable goods.

Household consumption represents 70% of annual economic output, and big purchases like cars materially add to gross domestic product when produced more.

In 2022, the economy grew at an average of 7.6% year-on-year, a figure that exceeded expectations as consumption showed resilience in the face of a multi-year high inflation.

Data broken down showed sales of passenger cars, comprising a 27.27% market share last month, skyrocketed 51.8% year-on-year. On a monthly basis, growth trailed at 39.91%.

Commercial vehicle sales rose 16.3% year-on-year to 26,822 units in March. This segment accounted for 72.73% market share in the previous month, inching up 13.1% month-on-month.

<h1>Local car sales balloon in March despite inflation in Philippines</h1>Sales in March proved to be higher than the preceding monthThe public's appetite for gas guzzlers did not show signs of slowing down as local car manufacturers saw sales fatten in March.Total motor vehicle sales in March leapfrogged 29% year-on-year to 36,880 units in March, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed on Wednesday.Sales in March proved to be higher than the preceding month, benefitting largely from the domestic economy's full reopening. The industry was roiled by headwinds, as sales waxed and waned, since the pandemic ravaged the global economy in 2020.'It is worth noting that the March 2023 sales performance is the second highest monthly performance in a post-pandemic time, after the more than 37,000-unit sales level recorded in December last year,' said CAMPI President Rommel Gutierrez.First-quarter sales amounted to 97,824 units, expanding 30.1% on-year, CAMPI noted.'In the same way, favorable economic conditions are also an important driving factor for sustained growth,' Gutierrez added.Vehicle sales are often used as barometer of economic strength. The central bank, for instance, closely follows this gauge to measure consumer appetite for durable goods.Household consumption represents 70% of annual economic output, and big purchases like cars materially add to gross domestic product when produced more.In 2022, the economy grew at an average of 7.6% year-on-year, a figure that exceeded expectations as consumption showed resilience in the face of a multi-year high inflation.Data broken down showed sales of passenger cars, comprising a 27.27% market share last month, skyrocketed 51.8% year-on-year. On a monthly basis, growth trailed at 39.91%.Commercial vehicle sales rose 16.3% year-on-year to 26,822 units in March. This segment accounted for 72.73% market share in the previous month, inching up 13.1% month-on-month.

Automotive / Motorcycle / Bicycle

Automotive / Automotive Supplies

Sales in March proved to be higher than the preceding month

Local car sales balloon in March despite inflation in Philippines

MANILA, Philippines – Toyota Philippines is prodding the government to provide an inclusive tax incentives to electric vehicles (EVs) to promote the electrification of the automotive industry and help mitigate the impact of climate change.

In an interview with Sunshine Cabrera, public relations head of Toyota PH, during last week’s 2023 International Ecotourism Travel Mart in Silang, Cavite, the carmaker representative said that incentives are important to sway Filipinos into shifting to EVs.

"But siguro, one of the ways of thinking ng customers kasi ngayon siyempre, 'pag electrified or hybrid, medyo mahal than regular," Cabrera said explaining the need for inclusive incentives to help the country move forward to using new technologies.

Toyota Philippines has yet to release a fully electric vehicle line in the country as it gears toward hybrid vehicles, noting the lack of infrastructure in the country.

"I think that would help not just the automotive industry but also other industries — kung motorcycle man — because it will also help promote the electrification of their products," Cabrera said.

Malacanang in January released Executive Order No. 12 series of 2023, which aims to lower the tariff rates for EVs and their components for the first five years.

However, this has received mixed reactions as it excluded electric motorcycles in the tax breaks, while the motorcycles comprise the majority of the country's transport mix with around eight million registered units to the Land Transportation Office.

Prominent stakeholders and think tanks are also vying for the inclusion of e-motorcycles in the tax breaks noting that the biggest number of motorists should not be excluded.

The electrification of transport is also part of the Philippine government's plan to hit its target to lower carbon emissions and comply with the Paris agreement to keep global warming below 2 degrees celsius.

Several landmark bills have also been passed to support this with the Republic Act 11697 or the Electric Vehicle Industry Development Act at its forefront.

<h1>Toyota Philippines calls for inclusive tax incentives on electric vehicles</h1>MANILA, Philippines – Toyota Philippines is prodding the government to provide an inclusive tax incentives to electric vehicles (EVs) to promote the electrification of the automotive industry and help mitigate the impact of climate change.In an interview with Sunshine Cabrera, public relations head of Toyota PH, during last week’s 2023 International Ecotourism Travel Mart in Silang, Cavite, the carmaker representative said that incentives are important to sway Filipinos into shifting to EVs."But siguro, one of the ways of thinking ng customers kasi ngayon siyempre, 'pag electrified or hybrid, medyo mahal than regular," Cabrera said explaining the need for inclusive incentives to help the country move forward to using new technologies.Toyota Philippines has yet to release a fully electric vehicle line in the country as it gears toward hybrid vehicles, noting the lack of infrastructure in the country."I think that would help not just the automotive industry but also other industries — kung motorcycle man — because it will also help promote the electrification of their products," Cabrera said.Malacanang in January released Executive Order No. 12 series of 2023, which aims to lower the tariff rates for EVs and their components for the first five years.However, this has received mixed reactions as it excluded electric motorcycles in the tax breaks, while the motorcycles comprise the majority of the country's transport mix with around eight million registered units to the Land Transportation Office.Prominent stakeholders and think tanks are also vying for the inclusion of e-motorcycles in the tax breaks noting that the biggest number of motorists should not be excluded.The electrification of transport is also part of the Philippine government's plan to hit its target to lower carbon emissions and comply with the Paris agreement to keep global warming below 2 degrees celsius.Several landmark bills have also been passed to support this with the Republic Act 11697 or the Electric Vehicle Industry Development Act at its forefront.

Toyota Philippines calls for inclusive tax incentives on electric vehicles

HR / Recruitment

Skin care / Cosmetics / Hair products

Internet service

Film / Drama

Magazines / Books / Publications

Marketing / Research

Diet / Health food / Supplement

Childbirth / Childcare

Interior / Furniture / Storage

Mobile device

Servers / Peripherals

Network / Network Equipment

System / Website / Application development

Electronic components / Semiconductors / Electrical equipment

Department stores / Supermarkets / Convenience stores / Stores

Wholeseller

Manga / Anime

Arcade Game

Toys / Playsets / Dolls

Car / Car Supplies

Motorcycles / Motorcycle Supplies

Daily necessities / Household goods

Garden / DIY

Shoes / Bags

Jewelry / Accessories

Kids / Baby / Maternity

Food / Sweets

Soft Drinks / Alcoholic drinks

Restaurant / Fast food / Streetfood

Eating at home / Delivery

Fitness / Healthcare

Medical / Hospital

Pharmaceuticals

Pets / Pet Supplies

Gifts / Flowers

Love / Marriage

Funeral

Hotels / inns

Travel / Sightseeing

Theme Park / Amusement park

Residential / Condominium

Commercial facilities / Office buildings

Architecture / Space design

Construction / Civil engineering

Advertising / Promotion / PR

Sales

Management Consulting

Think tank

Legal / Patent / Intellectual Property

Logistics / Warehouse / Cargo

Steel / Metal / Glass / Earth / Stone / Rubber

Chemistry

Electricity / Gas / Resources / Energy

Nature / Weather

School / University

Cram school / Preparatory school / Online education

Life insurance / Non-life insurance

Mobile app

Mobile games

Cooking / Home appliances

Health and Beauty appliances

Application

Ladies' Fashion

Men's Fashion

Accounting

Environment / SGDs / Recycling

International activity

Full time job / Part-time job / Career

E-commerce

Music

Internet Service Provider / Line connection

Camera

AV equipment

Consumer Games

Outdoors / Mountain Climbing

Welfare / Nursing / Rehabilitation

Qualifications / Study Abroad / Language

Childcare / Early childhood education

Banks / Credit unions

Credit card / Loan

Securities / FX / Investment Trusts

Moving

Politics / Government / Local government

Volunteer

Agriculture / Forestry / Fisheries

Bicycle / Bicycle Supplies

Female Related

Venture Capitals

Coaching / Mentoring / Consultation

Interior / Goods

Real Estate / Architecture / Construction

Software

Blockchain / Web3

Security

Telecommunications / VoIP

Show Business

Comedy