Car sales up 22% in Q1

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Sales of the automotive industry for the first quarter of the year have increased by 21.6 percent, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) said on Monday.

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Car sales from January to March 2016 reached 76,479 units from 62,882 units sold in the same period in 2015.

The robust expansion of the industry was driven by double-digit growth in all vehicle segments.

“This is another remarkable achievement for the automotive industry,” Campi President Rommel Gutierrez said.

“It has been a good start for 2016 and we hope that the momentum can be maintained in the coming months,” he added.

Bulk of sales of the industry for Q1 2016 were from commercial vehicles with sales recorded at 46,683 units or 23.4 percent higher from Q1 2015 sales of 37,831 units.

This is followed by light commercial vehicles with total sales of 30,625 units in the first three

Sales of the automotive industry for the first quarter of the year has increased by 21.6 percent, joint report of Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA) said on Monday.

Car sales from January to March 2016 reached 76,479 units from 62,882 units sold in the same period in 2015.

The robust expansion of the industry was driven by double-digit growth in all vehicle segments.

“This is another remarkable achievement for the automotive industry,” Campi President Rommel Gutierrez said.

“It has been a good start for 2016 and we hope that the momentum can be maintained in the coming months,” he added.

Bulk of sales of the industry for Q1 2016 were from commercial vehicles with sales recorded at 46,683 units or 23.4 percent higher from Q1 2015 sales of 37,831 units.

This is followed by light commercial vehicles with total sales of 30,625 units in the first three months of the year which went up by 22.9 percent from last year’s same period figures of 24,915 units.

Sales of passenger cars grew by 18.9 percent to 29,796 units this year from 25,051 units in 2015 while Asian utility vehicles posted an increment of 22.9 percent to 13,625 units from 11,088 units.

Sales of trucks and buses categories also increased in Q1 this year.

Three-month sales of light trucks recorded a growth of 28.4 percent selling a total of 1,441 units this year from same period in 2015 at 1,122 units.

Also, trucks and buses categories IV and V posted growth of 10.9 percent and 97.9 percent, respectively.

Trucks and buses category IV had a total sales of 517 units while category V had 475 units.

Meanwhile, month-on-month sales of the industry grew by 9.4 percent in March 2016 to 27,521 units from 25,150 units in February 2016.

Market leaders for Q1 2016 are Toyota, Mitsubishi, Ford, Isuzu and Honda.

PNA

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