New vehicle sales in the Philippines increased by close to 20% to a new high of 87,226 units in the first half of 2013, compared with 72,871 units in the same period last year, according to the Chamber of Automotive Manufacturers of Philippines Inc (CAMPI).

This data does not include sales of non CAMPI affiliated brands such as Hyundai, Chevrolet and some smaller players which together account for around 15% of sales.

The market continued to benefit from relatively low interest rates, easy credit and high levels of remittances from overseas workers. Passenger car sales were up by close to 28% at 28,035 units while commercial vehicle sales increased by 16% to 59,191 units.

Market leader Toyota sold 34,713 vehicles in the six month period, followed by Mitsubishi with 21,282 sales and Honda with 7,337 units.

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