Philippine imported vehicle sales up by 18%

Imported vehicle sales increased by 18 percent to 2,227 units year-on-year in September 2013 from 1, 887 units during the same period in 2012, according to the country 's Association of Vehicle Importers and Distributors Thursday. Total passenger car sales was up 39 percent to 1,230 units from 882 units which is more than enough to compensate for a 1 percent drop in the sales of light commercial vehicles to 997 units from 1, 887 units in 2012, a report by the vehicle group said. The drop in sales was brought about by the hefty decline in sales by Hyundai Asia Resources, Inc. Hyundai sales dropped 5 percent to 16,220 units from 17,156 units, year-on-year. Meanwhile, year-to-date sales was up by 5 percent, buoyed by a 25 percent increase in light commercial vehicle sales to 11,020 units from 8,832 units. Compared to the zesty sales of the light commercial vehicle category, passenger car sales, on the other hand decline 9 percent to 11,765 units from 12,931 units. Overall sales during the first nine months amounted to 22,785 units from 21,763 units during the same period in 2012. The vehicle group attributed clients' continued patronage of imported vehicles to an upbeat Philippine economy and improving investor sentiments. The dynamic business landscape in the country continues to be favorable to the automotive industry, it said. The group added that as investments increase and businesses expand, the renewed consumer confidence and considerable employment opportunities are set to boost demand for automobiles and other high value items.