RP car sales up as industry offers more choices, easier payment terms
11/09/2009 | 09:00 PM
More Filipinos bought new cars from January to October this year, encouraged by a wider range of options and easy payment terms, the association of Philippine car manufacturers said.
A total of 106,146 brand-new vehicles were purchased from January to October this year, 1.3 percent more than the 104,757 units bought a year ago, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) said.
Rising sales are likely to help the industry meet its target of selling 125,000 vehicles for this year, the association said.
To help customers buy their own cars, local auto manufacturers have offered more models combined with easy payment terms, Campi president Elizabeth Lee said.
“The goal was to sustain sales, preventing it from dipping into negative territory," she said.
"Banks have continued to support the industry with availability of financing at lower rates, OFW remittances which are seen to increase during the holiday season will continue to support consumption, and players are offering promotions which make acquisitions easier, in time for the holidays," Lee explained.
For October, the number of new vehicles sold reached 12,761 units, 12.9 percent higher than the previous month’s 11,304 units.
Of total sales, the commercial vehicle segment took the lead with 68,720 units sold as compared to 67,184 units in the first 10 months last year.
Sales of passenger cars fell 0.4 percent to 37,426 units from 37,573 units last year.
The top seller during the period was Japanese auto giant Toyota Motors Philippines Corp. with 36,593 units; followed by Mitsubishi Motors Philippines Corp. with 18,806 units; and Honda with 14,534 units.
Hyundai Asia Resources Inc. sold 8,990 cars; Ford Motor Co. Phils., Inc., 6,286 units; and Universal Motors Corp. with 4,1,54 units. - GMANews.TV
A total of 106,146 brand-new vehicles were purchased from January to October this year, 1.3 percent more than the 104,757 units bought a year ago, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) said.
Rising sales are likely to help the industry meet its target of selling 125,000 vehicles for this year, the association said.
To help customers buy their own cars, local auto manufacturers have offered more models combined with easy payment terms, Campi president Elizabeth Lee said.
“The goal was to sustain sales, preventing it from dipping into negative territory," she said.
"Banks have continued to support the industry with availability of financing at lower rates, OFW remittances which are seen to increase during the holiday season will continue to support consumption, and players are offering promotions which make acquisitions easier, in time for the holidays," Lee explained.
For October, the number of new vehicles sold reached 12,761 units, 12.9 percent higher than the previous month’s 11,304 units.
Of total sales, the commercial vehicle segment took the lead with 68,720 units sold as compared to 67,184 units in the first 10 months last year.
Sales of passenger cars fell 0.4 percent to 37,426 units from 37,573 units last year.
The top seller during the period was Japanese auto giant Toyota Motors Philippines Corp. with 36,593 units; followed by Mitsubishi Motors Philippines Corp. with 18,806 units; and Honda with 14,534 units.
Hyundai Asia Resources Inc. sold 8,990 cars; Ford Motor Co. Phils., Inc., 6,286 units; and Universal Motors Corp. with 4,1,54 units. - GMANews.TV
