RP automotive sales up 14.3% in Jan-Feb

MANILA, Philippines- Sales of automotives grew 14.3 percent to 18,280 units in the first two months of 2008, from year ago levels, the Chamber of Automotive Manufacturers in the Philippines said Monday. The group has projected automotive sales to reach 125,500 units in 2008. This, from sales that reached 118,000 units in 2007, the best the industry has seen since 1996. "Continued growth is still expected in the coming months amidst political noise tempered by relatively stable economic numbers, coupled with the strength of the peso," Elizabeth Lee, CAMPI president, said in a statement. According to CAMPI data, February sales reached 9,472 units, while sales in January totaled 8,808. Bulk of the automotives sold in the two-month period, 68 percent, were commercial vehicles. Passenger cars made up 19 percent of total sales during the period. - GMANews.TV