New vehicle sales in the Philippines increased by 32.6% to a new monthly high of 22,278 units in October, from 16,800 units a year earlier, according to member data released by the Chamber of Automotive Manufacturers of the Philippines (CAMPI).
The data does not include sales of some key imported brands such as Hyundai, Chevrolet and Subaru, which combined typically account for around 15% of the total market.
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Passenger vehicle sales jumped by 46.5% year-on-year to 8,975 units from 6,128 units previously – reflecting a strong new model cycle and buoyant consumer sentiment – driven by strong domestic economic growth.
Commercial vehicle sales increased by 24.7% to 13,303 units last month, compared with 10,672 units a year earlier.
Cumulative vehicle sales in the first ten months of the year were up by 29.6% at 192,005 units, from 148,181 units previously.
The association expects total vehicle sales this year, including those of non-member companies, to reach 250,000 units from 212,414 vehicles last year.
