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Vehicle sales surge 29.4%

Car sales surged 29.4 percent in September from a year ago, as buyers took advantage of attractive financing packages and strong lineups, two industry groups said Thursday.

The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report members sold 27,069 vehicles in September, up from 20,924 units in September 2014.  The September figure was also up 16.8 percent from the previous month.

This brought total vehicle sales in the first nine months to 206,284 units, up by 21.5 percent from 169,727 vehicles that were purchased in the same period last year.

“Customers continue to take advantage of attractive financing packages and strong vehicle line-up. This made way to greater mobility made more convenient and affordable,” said Campi president Rommel Gutierrez.

Orders for passenger cars increased 26 percent in September to 10,703 units while sales of commercial vehicles grew 32 percent to 16,366 units.

The two industry groups said sales in 2015 would likely reach 310,000 units. 

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