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Philippines Auto Sales Surged in June
Jul 22, 2009

Automobile sales in Philippines grew 4.4% in June 2009 due to the launch of new models and aggressive promotion.

The Chamber of Automotive Manufacturers of Philippines (CAMPI) revealed that the sales of automobiles in Philippines surged 4.4% in June 2009 from May 2009, reported ABS CBN News.

Overall 10,909 vehicles were sold in June 2009, taking the total number of vehicles sold in the first six months of 2009 upto 59,910. Sales of passenger cars registered a month-on-month increase of 1.2% in June 2009. The sales of this segment of automobiles surged 1.8% during January-June 2009 to 21,375 Units.

On the other hand, despite posting bleak sales since January 2009, commercial vehicles like Asian Utility Vehicles, vans and buses kept on dominating the overall automobile sales in the country. The sales of commercial vehicles rose 5.2% in June 2009 from a month ago. Sales of light commercial vehicles, in particular, posted 12.8% month-on-month growth in June, with 4,386 Units sold during the month and a total of 23,298 Units sold during the first six months of 2009.

The growth of the automobile sector of Philippines is basically attributed to the launch of new models in the market as well as aggressive promotional campaigns, which continued to propel growth into the passenger car segment. Besides this, the popularity of compact wagons and pick-up trucks also supported the growth in vehicle sales, with the multi-purpose and dual use of these vehicles remaining in demand.

President of CAMPI, Elizabeth Lee, stated, "We are thankful that the local auto sales are holding up and continue to register some growth month-on-month even amid the global crisis and considering the negative performance of auto sales in the West and even in ASEAN," reported ABS CBN News on July 8, 2009. "The forecast for this year remains tempered towards at least a flat growth," added Lee.

According to a Research Analyst at RNCOS, "Considering continuous remittance inflows and stability of the country's banking sector, demand of automobiles in Philippines is expected to remain intact during the current year. People will continue purchasing vehicles both for the business and personal use. This will, in turn, help in the growth of the automobile sector."

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