Vehicle sales in the Philippines rose by 6.7% to 10,575 units in August, compared with 9,906 units a year earlier, according to data released by Chamber of Automotive Manufacturers of the Philippines (Campi).
Go deeper with GlobalData
The improvement, while compared with weak year-earlier data, does reflects an improving trend in the market as the country’s domestic economy continues to be lifted by lending growth and strong remittances from overseas workers.
Year-to-date sales at the end of August were 1.3% lower at 82,081 units, compared with 83,196 units a year earlier – a significant improvement of the 2.4% decline in January-July sales.
Campi president Elizabeth Lee expects year-on-year comparisons to continue to improve in the final months of the year and re-iterated the association’s forecast of 125,000 vehicle sales for the whole of the year.
Toyota sold 28,076 vehicles year-to-date, 6.6% lower than a year earlier; while Mitsubishi’s sales rose by 32.5% to 14,763 units; followed by Honda with a 17.7% rise to 11,559 units.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Tony Pugliese
