Vehicle sales seen reaching 180,000 units

MANILA, Philippines - The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) expects total industry vehicles sales hitting 180,000 units or even more this year on the back of the country’s positive economic performance.

“We can hit 180,000 units this year or even more than that,” CAMPI president Roque Rommel Gutierrez told reporters yesterday.

Auto sales for the January to November period reached 141,283 units, up eight percent from a year ago.

CAMPI attributed the growth in sales to the normalization of supply following a supply disruption after two major calamities last year.

Vehicle sales last year were affected by the earthquake in Japan and floods in Thailand.

Higher sales were also seen as of end-November given strong demand for vehicles.

The introduction of new models as well as availability of financing schemes likewise supported the growth in sales.

Meanwhile, sales of imported vehicles reached 26,272 units as of end November, 14 percent higher than last year’s figure.

With increased spending expected during the holiday season, the CAMPI expects total industry sales to rise further this month.

For next year, Gutierrez said the CAMPI has yet to come up with a target but noted that total industry sales can increase from this year’s figure.

“For 2013, it is possible tor each 200,000 units,” he said.