New vehicle sales in the Philippines jumped by over 30% to 27,697 units in April, from 21,259 units in the same month of last year, according to a report released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).
The data does not include sales of some key non-affiliated brands, including Hyundai, Chevrolet and Subaru, which together typically account for around 15% of the total market.
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The country’s domestic economy is thought to have picked up significant momentum in the first quarter of 2016, with GDP growth estimated to have grown by 7% year-on-year, driven by strong growth in private consumption and investment. Election spending is also expected to have lifted growth in the last few months.
Passenger car sales rose by 19% year-on-year to 9,920 units in April, while commercial vehicle sales were 38% higher at 17,777 units.
In the first four months of the year, total vehicle sales were up by almost 24% at 104,176 units, from 84,141 units in the same period of last year.
