New vehicle sales in the Philippines rose by over 29% to 27,040 units in September, from 20,924 units in the same month of last year, according to data released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association (TMA). The associations’ data do not include sales of some key importers, including Hyundai, Chevrolet and Subaru, which together typically account for around 15% of the total market.
Passenger car sales increased by 26% to 8,477 units last month while commercial vehicle sales were up by 32% at 16,366 units.
Overall sales in the January-September period increased by 21% to 206,284 units, from 169,727 a year earlier, as the country’s strong domestic economic growth continues to benefit from low interest rates and falling unemployment.
Hyundai reported separately that its sales in September rose by 6% to 1,501 units, although year-to-date its sales were 5.5% lower at 16,220 units.