A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association showed encouraging growth indicators.
Among the positive indicators was the July sales which posted a double-digit growth of 13.5 percent with 31,810 units from 28,038 units recorded in the same period a year ago. On a month-on-month basis, sales performance is slower by measly 0.4 percent against 31,950 units recorded in the previous month.
“We are optimistic that if we are able to sustain this growth trend, we will be able to exceed our sales performance of last year,” said Gutierrez. Of the overall seven-month sales, commercial vehicle sales grew 5.5 percent to 144,130 units from 136,669 units while the passenger car segment was still in the negative 1.8 percent to 61,815 units from 62,959 units last year.
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