MANILA, Philippines ? Vehicle sales for 2009 rose 6.4 percent to 132,244 units, exceeding the industry?s target of a four-percent growth for the year.
Boosting overall sales for the year was the industry?s December performance, which demolished all monthly sales records registered over the last decade, according to data from the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association.
December sales reached a record 13,596 units, 7 percent more than the 12,702 units sold in November.
"Although December sales were expected to be seasonally higher, the stronger spike in December sales was a welcome result. This augurs well for 2010,?? CAMPI president Elizabeth Lee said in a statement.
"Stronger growth was due to higher replacement rate, coupled with stronger-than-expected growth in [overseas Filipino worker] remittances and aggressive financing packages. [These] fueled consumption, resulting in higher vehicle sales,?? she added.