EV uptake supports sluggish auto sales

Over 420,000 vehicles were added to the country's roads by the end of November, even as sales growth continued to lag, casting doubt on the industry's prospects of hitting its target for the year.

- By DEXTER BARRO II

Based on a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the automotive industry sold 420,776 units from January to November, slightly down from 425,208 units in the same period last year.

A bulk, or 79.82 percent, of sales came from commercial vehicles (CVs), which sold 335,859 units during the period.

Within the commercial segment, light commercial vehicles (LCVs) accounted for the lion's share, with 264,959 units sold, or 73.53 percent of the total.

Asian utility vehicles (AUVs) booked a 3.9-percent jump to 78,465 units in the 11-month period, compared with 75,549 units sold last year.

Heavy-duty trucks and buses registered a 41.2-percent increase to 867 units, while the light-duty category also rose by 6.9 percent to 6,257 units. The medium-duty segment, on the other hand, fell 12.5 percent to 3,311 units from 3,782 units last year.

CAMPI, the country's leading automotive group, said the industry remains on a solid footing this year, largely due to robust demand for CVs.