Tuesday, 10 February 2009

Philippine passenger car sales rise 14.2%

The Manila Standard

SALES of passenger cars rose 14.2 percent to 3,384 units in January, beating other markets including the United States, where sales plunged 27 percent in the same period, a group said.

But sales of commercial vehicles dipped 7.5 percent to 5,407 units, bringing total vehicles sold to 8,791 units for a slight 0.2-percent decline, the Chamber of Automotive Manufacturers of the Philippines said.

Commercial vehicles made up 62 percent of total sales, the group said, adding sales of Asian Utility Vehicles dipped 24.8 percent as a result of low stocks and higher prices.

But sales of light commercial vehicles including pickups, vans, and full-size SUVs climbed 3.1 percent.

Similarly, light truck purchases rose 27.4 percent, the group said, adding it was optimistic of sustaining sales with the arrival of new models.

“Sales are expected to be sustained in the coming months, although an increase in prices may be seen should the yen continue to remain strong against the greenback,” group head Elizabeth Lee said in a statement.

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