Domestic motor vehicle sales in the January-November period this year reached 315,337 units, just 20,666 units shy of the 336,000-unit sales target for the year.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and Truck Manufacturers Association showed the 26-member association sold 315,337 units, or 31 percent growth compared with the same period last year at 240,642 units.
For the month of November alone, auto industry sales jumped 32.4 percent to 35,037 units versus 26,456 units reported in the same month last year. December is traditionally the highest selling month in a year. “The auto sales performance has been improving, recording double-digit growths for nine successive months. With the continued growing consumer demand for new motor vehicles, the industry is convinced and confident in exceeding its sales forecast of 336,000 this year,” said CAMPI President Rommel Gutierrez.
Of total sales in the first 11 months, the commercial vehicle segment contributed the bulk of 238,054 units or 45.3 percent higher than the 163,829 units in the same period last year. The segment also accounted for 75.49 percent of market from 68.08 percent market share last year.
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