Car sales expand 23.6 pct in May

MANILA, Philippines (Xinhua) - Car sales rose by 23.6 percent on year to a record 19,598 units in May from 15,860 units recorded in the same period last year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) said today.

CAMPI President Rommel Gutierrez said the local auto industry posted the new highest monthly record sales in May.

"For the month of June, we are expecting to have stable to higher sales as the auto industry continues to get stronger due to extension of promo support and possibly additional marketing activities from the different brands," said Gutierrez in a statement.

In May, both the passenger car and commercial vehicle segments posted hikes in sales. Passenger car sales grew by 44.3 percent on year to 7,507 units while sales of commercial vehicles rose by 13. 4 percent on year to 12,091 units during the period.

Japanese car maker Toyota Motors Philippines Corp. led the industry with a market share of 46.6 percent, followed by Mitsubishi Motors Philippines Corp. with a 21-percent market share and Ford Motor Company Phils. Inc. with a share of 8.73 percent.   

In January to May, the local auto industry sold a total of 89, 335 units, 22.4 percent higher than the 72,988 units sold in the same period last year.