Local Auto Sales up 6.3% to 11,597 Units in July 2009
The automotive industry is expected to perform better during the second half of the year as automobile sales for the month of July was the highest so far for this year.
In a joint report by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), July sales stood at 11,597 units, 6.3 percent higher than the June figure.
“Things are starting to look a bit brighter for the remainder of the year with the relatively good sales performance in the month of July with a 6.3-percent growth versus June,” CAMPI president Elizabeth H. Lee said.
“July sales should be a positive signal for the performance in the second half of the year with more robust sales seen in the coming months assuming market conditions improve,” Lee said.
For July, all segments performed relatively better when compared to last month with sales of commercial vehicles gaining 8.2 percent and passenger cars rising 2.8 percent.
Lee estimated that the industry will have to sell an average of about 10,700 units for the remainder of the year to be able to attain the industry target of 125,000 units for 2009.
“The industry remains cautiously optimistic with buyers able to finance their purchases with relative ease and at lower cost.” Lee noted.
Commercial vehicle sales continue to dominate the market with a 64.6-percent share of total vehicles sold nationwide.
Commercial vehicle sales grew by 8.2 percent compared to June due to sustained aggresive marketing campaigns. This reflects the buying public’s preference for multipurpose vehicles that offer more value for money and can be used both for personal and business purposes. Continued overall growth is expected for the coming months.
For passengar cars, Lee said that the stable increase in year to date passenger car sales of 2.8 percent was due to the market acceptance of the compact-size models and improved supply. There is also an increase of 0.3 percent in month-on-month sales attributable to existing promos and stock availability.
Sales of Asian utility vehicles and light commercial vehicles bounced back with 7.8 percent and 7.4 percent growth respectively.
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