The Philippine new vehicle market started the year strongly, with sales rising by 27% to 15,642 units in January from 12,303 units a year earlier, according to data released jointly by Chamber of Automotive Manufacturers of Philippines (CAMPI) and Truck Manufacturers Association (TMA).
This data does not include sales of non-affiliated brands such as Hyundai, Chevrolet, Subaru and some smaller players, which together typically account for around 15% of the total market.
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Hyundai Motor, the largest non-affiliated automotive brand, reported separately that its sales last month increased by 13% to 2,243 units, compared with 1,992 units a year earlier.
CAMPI remains bullish on the outlook for the market, with continued strength in the domestic economy forecast to lift sales to a new record of 230,000 units in 2014.
