Vehicle sales in the Philippines rose by 33.8% to 11,763 units in January, compared with depressed year-earlier volumes of 8,791 units, according to data released by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi).
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Compared with the previous month’s 13,596 units, however, January’s sales were 13.5% lower.
Passenger car sales amounted to 3,856 units in January, while commercial vehicle sales amounted to 7,907 units. Market leader Toyota’s sales increased by 20.9% year-on-year to 3,871 units; followed by Mitsubishi with 2,411 units (+56.5%); and Honda 1,319 (-11.9%)
Campi expects the market to continue to grow in 2010, by over 3% to around 137,000 units, helped by growth in remittances from overseas workers, high levels of bank lending and continued business investment. The election will also help increase demand.
Tony Pugliese
