CAMPI, Toyota consider revising 2014 sales targets upwards

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Toyota Motor Philippines Corp. (TMPC) may increase their 2014 sales projections as sales performance has been positive.

"We may raise the forecast of 230,000 units by the middle of the year because of good January and February results," said CAMPI President Rommel Gutierrez

CAMPI sold a total of 32,470 units as of end-February, 21 percent higher than the 26,742 sold during the same period last year.

Sales of the Association of Vehicle Importers and Distributors, Inc. (AVID), meanwhile, grew by 18 percent to 5,866 units in January-February, compared to 4,963 in January-February 2013.

The country's total vehicle sales reached around 212,000 units last year.

TMPC President Michinobu Sugata, meantime, said that they were also considering revising their 2014 target of 90,000 units upwards.

"For the first two months, the market was quite encouraging," he said.

As of end-February, TMPC's sales rose by 31 percent to reach 13,988 units from the 10,659 units in the same period last year.

Sugata explained that their robust sales were due to the positive reception of three newly launched vehicles: the Corolla Altis, Innova and Wigo.

Reservations for the Wigo hatchback, launched a month ago, have reached 2,000 units.

Toyota also expected a further boost from the Yaris, which was unveiled on Monday night.  TMPC expects to sell 150 units of the fashion-forward Yaris per month.

Last year, TMPC's sales hit an all-time high of 75,587 units. — DVM, GMA News