Philippines LV Sales Shatter Quarterly Record
An industry spokesman says automakers are confident they will reach their 310,000-unit sales target for the full year as volume is expected to grow in coming months.
The Philippine automotive industry sets a first-quarter record for the third straight year with sales soaring to 62,882 units.
It is the first time the 60,000-unit mark has been passed with deliveries jumping 22% from the 2014 first-quarter record of 51,722.
The Chamber of Automobile Manufacturers of the Philippines says the quarter ended with March sales rising 23% year-on-year to 23,557 units.
First-quarter car sales soared 38% to 25,051 units and now account for almost 40% of total industry deliveries compared with a 29% share in 2012.
Chamber President Rommel Gutierrez says the industry is confident it will reach its 310,000-unit sales target for the full year as volume is expected to grow in the coming months.
The industry last year saw deliveries jump 30% to a record 234,747 units, backed by robust sales in all product categories.
Leading the performers for the 2015 first quarter was Toyota with a 44.2% market share, ahead of Mitsubishi (18.8%), Ford (8.4%), Isuzu (7.9%), and Honda (6.0%). Commercial-vehicle deliveries rose 13% in the period to 37,831 units.
About the Author
You May Also Like
