New vehicle sales in the Philippines increased by over 35% to 14,332 units in February, from 10,591 units a year earlier, according to member data jointly released by the Chamber of Automotive Manufacturers of Philippines Inc (CAMPI) and the Truck Manufacturers Association.
Driving the market forward is strong demand for passenger cars, with sales rising by over 50% to 4,574 units, while commercial vehicle sales increased by 29% to 9,758 units. The data does not include sales of non-associated brands such as Hyundai, General Motors and Subaru.
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CAMPI president Rommel Gutierrez attributed the continued market strength to robust growth in the domestic economy, reflecting improving consumer purchasing power and rising private and public sector investment.
Cumulative sales for the two-month period were up by close to 42% to 26,588 units, from 18,718 units a year earlier. Toyota Motor sold 10,598 vehicles in the two-month period; followed by Mitsubishi Motors with 6,404 units; Honda Cars 2,633 units; and Isuzu Philippines 1,750 units.
