Car sales in October grew 12 percent to 15,081 units from 13,456 year-on-year, fueled by a more stable supply and aggressive promotions of different vehicle brands.
“We are very pleased with the outstanding performance of last month’s sales. This was a result of all manufacturers being very aggressive with their marketing efforts coupled with an influx of new model introductions the past months,” Chamber of Automotive Manufacturers of the Philippines Inc. president Rommel Gutierrez said in a statement Monday.
Gutierrez said sales in October were also 17 percent higher than the 12,857 vehicles sold in September.
“This is a very clear sign that the industry continues to be strong and is on track. I am confident that we will exceed last year’s performance despite the slow start at the beginning of the year due to supply shortages,” he said.
Gutierrez said aside from the normalization of supply and aggressive promotional campaigns, the industry also took advantage of the country’s strong economy and the increased purchasing power of Filipinos.
Total sales in the first 10 months grew 7 percent to 126,663 units from 118,762 a year ago.
Toyota Motor Philippines led the industry by garnering 42 percent share of the market in the 10-month period, followed by Mitsubishi Motors Philippines with 22 percent, and Honda Cars Philippines with 8 percent.
“The total projected industry sales of 185,000 is still possible,” Gutierrez said. Industry sales hit 165,194 units in 2011, of which Campi accounted for 141,616 while the Association of Vehicle Importers and Distributors contributed 23,578.
Source: Manila Standard Today.
