Vehicle sales in the Philippines are expected to reach 300,000 units by 2015, on the back of a robust economy, growing middle class and increased remittances from overseas Filipino workers. FILE PHOTO
MANILA, Philippines–Vehicle sales in the Philippines are expected to reach 300,000 units by 2015, on the back of a robust economy, growing middle class and increased remittances from overseas Filipino workers.
“We are positive that the (double-digit) growth will be sustained even up to the next two years. The national elections in 2016 may also help boost sales. We have yet to see the realization of the 250,000 sales target (of Campi for this year). If sales hit 250,000 to 260,000 units, then it’s possible for vehicle sales to reach 300,000 next year,” said Rommel Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines Inc.
As of end-September, total vehicle sales of Campi members already reached 169,727 units.
Keen interest in vehicles was evident in the 5th Philippine International Motor Show held last month.
The number of visitors doubled to 90,000 from the 45,000 people who went to the motor show in 2013.
This is despite the cancellation of one day’s events because of heavy rain and flooding in Metro Manila.