Vehicle sales grow 7.5% in September

The Philippine automotive industry saw a 7.5% increase in sales volume in September as buying activities pickup in time for the holiday season, according to an industry report.

In a joint report on Wednesday, the  Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said total vehicle sales reached 31,820 units last month, up 7.5% from 29,599 units sold in August.

The September sales figures also grew 2.3% from 31,116 units sold in the same period last year.

With the continuing demand for commercial and passenger vehicle sales propping up the industry, CAMPI said it remains bullish that the automotive sector will post continuous positive growth until the end of the year.

“CAMPI has expected this recovery coming into the last quarter of the year,” CAMPI president Rommel Gutierrez said.

“September is traditionally the start of an upward trend in sales as the public begin to spend for the upcoming holiday season," Gutierrez said.

The industry group chief said the positive growth in September is a good indicator of the increasing and widening demand for vehicles.

"We are optimistic that the industry is well-positioned and prepared to progressively get back on track towards strong positive growth in the coming months," Gutierrez said. —LDF, GMA News