Philippines’ vehicle sales hit new high in October
More than 28,600 vehicles were sold in the Philippines within October, exceeding the previous month’s figure by 5.9 percent.
Illustrative Image : Source (media.philstar)According to a joint report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association, the October sales marked an annual increase of 28.7 percent. It contributed to helping ten-month sales reach 234,951 units, up 22.4 percent compared to the same period last year.
CAMPI President Rommel Gutierrez said both passenger and commercial categories posted improved sales in October. The passenger segment rose 25.2 percent with 11,235 units sold, while the commercial car category recorded a 31 percent year-on-year sales growth to hit 17,432 units.
Overall economic progress, active promotion campaigns, and the introduction of new models to match customer needs had resulted in better domestic consumption.
The report said Toyota Motor Philippines Corp. made the highest sales in October, accounting for 43.28 percent of the market share. Mitsubishi Motors Philippines Corp. and Ford Motor Co. Philippines Inc. followed with 19.07 percent and 8.33 percent, respectively.
Gutierrez expected the sales to reach 310,000 units this year, which was 269,000 in 2014.-VNA
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