Business and Economy
Vehicle sales jump 64% in September
Sales of passenger cars and commercial vehicles both increased by double digits at 21.2 percent and 83.1 percent, respectively. (Pexels photo)
Sales of passenger cars and commercial vehicles both increased by double digits at 21.2 percent and 83.1 percent, respectively.
Year-on-year passenger car sales went up to 7,976 units from 6,580 units, while commercial vehicle sales increased to 27,306 units from 14,913 units.
Month-on-month, industry sales also rose by 16.9 percent from sales in August at 30,185 units.
CAMPI president Rommel Gutierrez said the industry has started to see an increase in demand for new vehicles last month.
“The automotive industry foresees a continued growth in the latter part of the year, benefitting from the improving economy based on the recent growth forecast of 6.5 percent this year – attributed to strong domestic demand and continued easing of pandemic restrictions,” Gutierrez said.
Meanwhile, CAMPI and TMA sales for January to September this year improved by 29.5 percent to 248,154 units from 191,605 units in the same period last year.
Year-to-date, growth was supported by strong sales in commercial vehicles, rising by 44 percent to 188,096 units from 60,982 units.
On the other hand, passenger car sales in the first three quarters of the year fell 1.5 percent to 60,058 units from 60,982 vehicles sold in 2021.
