Vehicle sales up on improved supply, economy

VEHICLE sales in June grew by 25 percent year-on-year on improved supply and favorable economy, the Chamber of Automotive Manufacturers of the Philippines (Campi) said in a statement.

During the month, vehicle sales reached 13,697 units, up from the 10,935 cars sold in June 2011, it said.

The 25 percent year-on-year growth in number of units sold brought year-to-date industry sales to 72,874 units, Campi said.

In January to June 2011, sales reached 69,782 units, CAMPI said.

“Because of the improved supply situation and stable economy in the country, sales have improved significantly. The local automotive industry continues to exceed monthly forecasts and perform better than expected because of these favorable situations,” Campi said.

Toyota Motor Philippines maintained its lead with a market share of 40 percent. Mitsubishi followed with 23 percent and Honda with 8 percent.

“Manufacturers have recovered from their supply problem and are now able to fully serve customer demands. We are very pleased to end the first semester of the year on a high note,” Campi president Rommel Gutierrez said.

Campi said the strong performance came just as the industry was preparing to host the 4th Philippine International Motor Show on Aug. 16 to 19 at the World Trade Center.

“This event aims to highlight the automotive industry’s role in the economic development by providing transportation requirements. The motor show also intends to promote the automotive industry’s global environmental responsibility,” Campi said.