News Room - Business/Economics

Posted on 11 Mar 2009

Philippines` auto sales up 2.7% in Feb month-on-month

 

The Philippines' auto industry registered 2.7 per cent growth in sales selling 9,027 units for the month of February compared to January, the Chamber of Automotive Manufacturers of the Philippines Inc.(CAMPI) said.

 

CAMPI president Elizabeth H. Lee said the growth was remarkable, especially when compared to how other major markets are performing, with the largest auto market in the US plunging 41 per cent in February.

 

Although year-to-date local sales registered a slight 2.5-percent decline for January to February this year as against the same period in 2008, local Philippine auto players are hopeful that the increase in local February sales is a sign of a growth trend for 2009.