Vehicle sales jumped 25% in first half

AP FILE PHOTO

Rising demand and stronger purchasing power fueled the growth of vehicle sales in the first half of the year to 108,957 units, up 24.9 percent from the 87,228 units sold a year ago.

For June alone, vehicle sales grew by 37.8 percent to 19,622 units, data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) showed.

Campi said the surge in vehicle sales in June could largely be attributed to the “staggering demand” of the market for passenger cars given the aggressive product launches and continuous marketing support among vehicle companies.

“It is apparent that the market’s demand and increasing purchase intent have positively boosted the morale of the automotive industry for the first quarter. We are equally pleased with the overwhelming results for the second quarter as sales continue to increase,” said Campi president Rommel Gutierrez.