The Philippine automotive trade saw a 7.5% increase in sales volume in September as shopping for activities pickup in time for the vacation season, as per a business report.
In a joint report on Wednesday, the Chamber of Automotive makers of the Philippines opposition. (CAMPI) and therefore the Truck makers Association (TMA) aforesaid total vehicle sales reached 31,820 units last month, up 7.5% from 29,599 units oversubscribed in August.
The September sales figures additionally grew 2.3% from 31,116 units sold-out within the same period last year.
With the continued demand for business and traveler vehicle sales support the trade, CAMPI aforesaid it remains optimistic that the automotive sector can post continuous positive growth till the top of the year.
“CAMPI has expected this recovery returning into the half-moon of the year,” CAMPI president Rommel Gutierrez aforesaid.
“September is historically the beginning of an upward trend in sales because the public begins to pay for the future season,” Gutierrez aforesaid.
The business group chief aforesaid the positive growth in September may be a smart indicator of the increasing and widening demand for vehicles.
We are optimistic that the trade is well-positioned and ready to increasingly retreat to head within the right direction towards robust positive growth in the returning months,” Gutierrez aforesaid. Passenger vehicle sales grew 3 % to 9,721 from 9,441 last year.
Year-to-date, the car section saw sales drop by 1.1% to 80,317 from 81,182 oversubscribed within the same 9 months last year, whereas business vehicle sales climbed 3.9% to 187,047 from 179,979. Meanwhile, AUV sales born by 31st to 26,348 from 38,181, whereas LCV sales rose 14.9% to 150,436 from 130,977.