Automotive sales in February sustained double-digit growth

By Othel V. Campos

LOCAL automotive sales sustained a doubledigit growth in February on the back of strong demand, reflecting the industry’s recovery from the pandemic, data from two industry groups show.

The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report Monday vehicle sales grew 27.2 percent in February from a year ago, following the 42-percent rise in January and 33-percent increase in 2022.

Members of the two groups sold 30,905 vehicles in February, up from

24,307 units delivered in the same month last year.

“The industry demonstrated anew positive sales growth of 27.2 percent in February 2023 on a year-on-year basis—a clear indicator of a continuously progressing auto industry from the course of the pandemic,” said CAMPI president Rommel Gutierrez.

Passenger car sales increased 21.6 percent in February to 7,189 from 5,914 units a year ago, while commercial vehicle sales went up 29 percent to 23,716 from 18,370.

Data showed that industry sales also increased 4.8 percent month-on-month despite the fewer days in February.

Passenger car sales slowed 4.22 percent from 7,506 units sold in January, while commercial vehicle sales picked up 7.8 percent from 21,993 units.

Combined sales in the first two months of 2023 accelerated by 34 percent to 60,404 units from 45,069 units. Passenger car sales in the two-month period went up by 25.6 percent to 14,695 from 11,698 units, while commercial vehicle sales climbed 37 percent to 45,709 from 33,371.

DOE warns of high power prices during dry months

THE Department of Energy warned of possible higher electricity rates during the dry months in case a tight supply would necessitate the operation of oil-based power plants.

Passenger cars refer to sedans and hatchbacks, while commercial vehicles include crossovers, multi-purpose vehicles, sports utility vehicles, pick-up trucks, vans, jeepneys and trucks.

Gutierrez said members of CAMPI and TMA were expecting total sales in 2023 to grow by 10 percent to 15 percent to about 395,000 units from 352,596 vehicles sold last year. The number is on top of sales by other industry groups.

“The favorable various economic indicators are prevailing, leading to improving the overall outlook of the economy alongside increasing consumer demand for new motor vehicles,” he said.

“If we are going to run the oil-based power plants, then it will necessarily cause an increase in power prices,” Energy Secretary Raphael Lotilla said at the sidelines of the Makati Business Club’s F2F with Cab Secs Forum. Lotilla said the DOE is seeking everyone’s cooperation, given the anticipated yellow alerts expected during the dry months. “It’s not the case where it is inevitable, but after looking at the available supply and the maintenance schedules of power plants, it is something we are asking everyone’s cooperation to manage,” he said.

Lotilla underscored the need for demandside management such as avoiding using electricity during peak hours.

“If demand is high, the plants that we will have to run are oil-based power plants. And if you use oil, as you know, the prices are much higher than the use of other fuels,” Lotilla said. Alena Mae S. Flores

ACEN investing $250m in India power projects

ACEN Corp., Ayala Group’s listed energy platform, said Monday it is investing $250 million in equity and performance guarantees, in a new venture in India.

ACEN said it signed a partnership with USbased renewable power company BrightNight LLC to develop, construct and operate largescale hybrid wind-solar power projects in India.

“With this partnership, we are significantly strengthening our foothold in India’s fastgrowing market as we shift from pure solar play to multi-technology renewables. We look forward to working with BrightNight’s highly experienced local team as our combined expertise will help India progress towards their energy transition goal and spur the global transition towards a Net Zero economy,” ACEN International chief executive Patrice Clausse said.

ACEN’s investment, through subsidiaries ACEN Renewables International and ACEN International, will help BrightNight’s existing portfolio and future growth and accelerate the development of over 1.2 gigawatts of power portfolio in India, including a differentiated 100-MW co-located, wind-solar project in Maharashtra. Alena Mae S. Flores

AirAsia PH reports 95% rise in forward bookings

AIRASIA Philippines said Monday forward bookings jumped 95 percent to 475,000 for the month of March from a year ago.

The budget airline said the top three destinations for domestic and international bookings include Cebu, Boracay, Tacloban, Taipei, Bangkok and Seoul.