New vehicle sales in the Philippines rose by almost 26% to 26.979 units in November, from 21,422 units in the same month of last year, according to data released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).
The associations’ data did not include sales of some key importers, including Hyundai, Chevrolet and Subaru, which together typically account for around 15% of the total market.
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Passenger car sales increased by over 32% year on year to 10,649 units last month, while commercial vehicle sales were up by 22% at 16,330 units.
Total sales in the January-November period increased by just under 23% to 261,930 units, from 213,427 a year earlier, reflecting strong domestic economic growth driven by low interest rates.
Hyundai is yet to report its November sales but, in the first 10 months, its sales were down by 6% at 16,703 units.
CAMPI remains optimistic that its full year sales forecast of 310,000 units, including sales of non-member companies, will be met.
