The local automotive industry is expecting a four percent sales growth--an improvement over this year's bleak sales--on the back of a better economy in 2010.
The forecast was made by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), which expects to sell 132,000 units of vehicles next year from an estimated 125,000 units sold in 2009 with the industry momentum over the past few months likely to continue.
CAMPI president Elizabeth Lee said improved output will also help the local automotive industry as it lags behind the production levels of other Southeast Asian countries.
"We have to do better. We have to do better, faster," Lee said.
Latest CAMPI data shows the local automotive industry sold 106,146 units from January to October. November sales data are expected to be released next week.
With a balance of only 18,854 units for the last two months of the year, and with average monthly sales of 10,614 units, CAMPI expects to close the year with a two percent improvement over 2008's sales which stood at 124,449. CAMPI's 2009 sales target is 125,000 units.