The country’s automotive industry enjoyed a prosperous month last May as records indicated an increase of 30% in vehicle sales.
In an official report released by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA), auto sales last month was 30.3 percent higher thanthe May 2015 auto sales.
The report also showed that sales from the Commercial Vehicle (CV) segment had the highest contribution with 83,719 units sold, resulting in a 30.1 percent increase from the number of sales last year on the same first five months. The Passenger Car (PC) segment accounted for the remaining 50,609 units sold or 17.9 percent higher from its record of 42,938 in the same period last year.
Compared to last year’s results, the performance of the automotive industry has been considerably better. The stiff competition in the industry, coupled with stock availability,led to the introduction of new and innovative models which increased overall sales.
