Car sales soar 37% in August

August is traditionally a slow month for many businesses but car showrooms in the Philippines were more active than usual with more Pinoys opting to get a new vehicle.

Philippine car sales stood at 112,454 units as of August, 37 percent higher than the units sold as of the same month last year, a joint report from the Chamber of Automotive Manufacturers in the Philippines (CAMPI) and the Truck Manufacturers Association showed.

"With increased business activity and confidence, most entrepreneurs and business owners have expanded their businesses," CAMPI president Elizabeth Lee told TopGear.com.ph. "This contributes to the increase in vehicle sales used for both personal and business use."

As much as 65 percent of the vehicles bought from January to August were under the commercial vehicle segment, which includes sport-utility vehicles, pickup trucks and vans. Commercial vehicle sales have risen 38.3 percent and passenger cars at 34.6 percent since the start of the year.

Lee is optimistic the positive trend in car sales will continue. She added the Philippine International Motor Show from August 19 to 22, which showcased many current and future car models, will contribute to the continuous growth in car sales.

"Many launches were done during the show so we expect sales to be reflected in the coming months especially for the new models," Lee added.

Fresh models introduced in the local market in August include the Toyota Alphard, Mitsubishi ASX and Ford Fiesta.

In August alone, car sales reached 14,335 units, 35.6 percent higher than the number of vehicles sold in the same month last year.

CAMPI noted, however, that sales in August were lower by 10 percent when compared with July sales due to "insufficient stocks."

August sales data showed Pinoys continued to favor brands like Toyota, Mitsubishi, Hyundai, Honda and Isuzu--the top five carmakers in the country. CAMPI's report does not include Subaru and select Chinese brands.

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