MANILA, Philippines - Auto sales in the country surged to a new monthly record in May, according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).
CAMPI said the combined sales reached 19,598 units in May, 23.6 percent higher than the 15,860 units sold in the same month in 2013. The higher sales were attributed to the introduction of new models and aggressive promos of different brands.
Sales of both passenger car and commercial vehicle categories were also higher in May, due to continued strong demand of new car models and extended promos.
In May, 7,507 passenger cars were sold, 44 percent higher than year-ago figures. On the other hand, there were 12,091 units of commercial vehicles sold in May, 13 percent higher than the same period last year.
"For the month of June, we are expecting to have stable to higher sales as the automotive industry continues to get stronger due to extension of promo support and possibly additional marketing activities from the different brands," CAMPI president Atty. Rommel Gutierrez said.
In the first five months of the year, 89,335 units were sold, 22 percent higher than year-ago figures.
Toyota Motor Philippines Corporation (TMPC) remains the market leader with 44.8 percent share, followed by Mitsubishi Motor Philippines Corporation with 23 percent.
Ford Motor Philippines ranks third with 8 percent share, followed by Isuzu Philippines Corporation with 5.9 percent share and Honda Cars Philippines with 5.3 percent market share.