ANN/INQUIRER.NET – Automotive sales in the Philippines saw their slowest growth of the year in October, rising by just 1.2 per cent, according to data from the Chamber of Automotive Manufacturers of the Philippines Inc (Campi) and the Truck Manufacturers Association.
Vehicle sales for the month reached 40,003 units, a slight increase from 39,542 units in September. Despite the slowdown, Campi President Rommel Gutierrez expressed optimism, noting the sector’s modest growth amid challenges from recent storms impacting businesses.
“The increase can be attributed to good sales and good stock availability, neutralising the effect of Severe Tropical Storm ‘Kristine’ on the operations of dealers nationwide last month,” he said in a statement on Friday.
Commercial vehicles continued to dominate the market with 29,959 units sold in October, while light commercial vehicles came second with 21,813 units.
Passenger car and Asian utility vehicle segments followed with 10,044 and 7,089 sold units, respectively.
The October number brought total sales at the end of 10 months to 384,310 units, nine per cent higher than the 352,971 units logged in the same period last year. Commercial vehicles and light commercial vehicles remained the growth drivers, based on the joint report.
