New vehicle sales in the Philippines increased by 10.8% to 15,114 units in March, from 13,631 units a year earlier, according to member data jointly released by the Chamber of Automotive Manufacturers of Philippines (CAMPI) and the Truck Manufacturers Association (TMA).

The data does not include sales of non-affiliate brands such as Hyundai, Chevrolet and Subaru, which typically account for around 15% of the market.

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Continued growth in the market reflects strong domestic economic activity, fuelled by low interest rates and high levels of investment.

Cumulative sales of CAMPI and TMA members in the first quarter of the year increased by more than 29% to 41,702 units, from 32,240 units a year earlier.

CAMPI remains confident new vehicle sales in the country, including those of non-member brands, will hit 200,000 units for the first time in 2013.

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