New vehicle sales in the Philippines rose by close to 20% year-on-year to 18,904 units in April, according to data released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the 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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The strong domestic economy, record low interest rates and new models continue to drive the market forward. Sales of passenger cars increased by 41% to 6,732 units last month, while commercial vehicle sales were 10% higher at 11,362 units.
Cumulative four-month sales among CAMPI and TMA members reached 69,737 units, 22% higher than in the same period of last year. CAMPI forecasts total vehicle sales, including those by non-member companies, will reach 230,000 units this year compared with 208,000 last year.
