Total vehicle sales in the Philippines reached 328,854 units in 2015, up 21.6 percent from 270,430 units sold in 2014, data from three industry groups show.
Combined sales of the Chamber of Automotive Manufacturers of the Philippines Inc., the Truck Manufacturers Association and the Association of Vehicle Importers and Distributors exceeded the industry target of 320,000 units by 2.7 percent.
Avid, a group of car importers, said sales of members hit 58,712 units in 2015, up from 35,593 units sold in 2014. The figure included data from Ford Philippines that changed membership from Campi to Avid in 2015.
The passenger car segment saw sales increase 21 percent to 22,386 units. Sales of light commercial vehicles surged 112 percent to 36,326 units in 2015 from 17,125 units in the previous year.
Avid president Ma. Fe Agudo said the uptick in vehicle sales in 2015 was expected to continue this year, given the continued stability in the monetary environment. “Sustained growth in vehicle demand mirrors bullish consumer confidence, challenging local players to keep on playing their A game in product and service offerings,” she said.