Vehicle sales up 10% in Q1 to 28,904 units

By Ayen Infante

04/09/2008

Vehicle sales from in the first quarter went up by 10.3 percent to 28,904 units from 26,199 units in the same period last year.

Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) president Elizabeth Lee said the strong growth was the result of a significant sales jump for the month of March when sales reached 10,624 units sales or a 12.2- percent increase compared to February.

Lee said there is still a relatively strong demand for vehicles as consumers continue to buy cars, albeit with much more discretion, as higher food and fuel prices bites on Filipinos’ budget.

“Hence, the continued preference for vehicles that double as personal and business use reflect the importance of value for money. Buyers are also smarter nowadays, choosing to purchase brand new cars that yield a longer lifespan, making their investments last,” Lee added.

Passenger car sales went up by 7.6 percent in the first quarter compared to the same period last year while commercial vehicles continue to dominate the market with a 66-percent market share earning a double-digit growth of 11.8 percent compared to 2007 sales.

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