Car and truck sales declined by 2.4 percent to 29,599 units sold in August 2019, down from 30,313 units reported in August 2018, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines (Campi) and the Truck Manufacturers Association (TMA).

Campi President Rommel Gutierrez attributed the decline to supply constraints and the lack of stocks of models of some brands to be phased out soon.

“The reality of the seasonal trends in the industry continue to hold true despite the boost in sales and marketing campaigns during the off-peak month of August,” he said.

He said August was a “challenging month,” but the industry was expecting a turnaround this September until the last quarter of the year, “as the industry introduces new car models and more innovative and value-laden offers for car buyers.”

On a month-on-month basis, sales performance was slower by 7 percent against 31,810 units reported in July.

Year-to-date sales improved by 2.4 percent to 235,544 units against the 229,941 units sold last year.

“Our target of 410,000 units remains to be a highly achievable goal for the industry,” he said. (Melo M. Acuña)