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A joint report from the Philippine Automotive Industry Manufacturers Association (CAMPI) and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales in October were 38,128 units, a decrease of 1.3% from the previous month. Although there was a slight decrease, it was an increase of 18.6% compared to the same period in 2022. Year-to-date sales have reached 352,971 vehicles, a year-on-year increase of 25.9%.
CAMPI President Rommel Gutierrez said that 83% of the 2023 sales forecast has been completed in October and is confident that the sales target of 423,000 vehicles can be achieved by the end of the year. The manufacturer had earlier expressed optimism that sales would reach 395,000 vehicles in 2023, with a growth rate of 10% to 15%.
(Source: gmanetwork Image source: freepik)
