Image via WikipediaThe local auto industry capped the year 2010 with a strong double-digit growth at 27.2% versus the previous year selling 168,490 units, surpassing the industry’s highest ever sales benchmark of 162,000 units in 1996 on back of strong business confidence and recovery of the domestic economy.
“It is about time the industry surpassed that benchmark. 2010 was an auspicious year for the auto industry, showing strong growth backed by major accomplishments that will help the industry as a whole move forward,” said Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).
Based on the CAMPI report, out of the overall 168,490 unit sales in 2010 the passenger car segment sold a total of 58,691 units or 27 percent higher than the 46,228 units sold in 2009.
The commercial vehicle contributed the bulk of the 2010 sales with 109,799 units or 27.4 percent higher than the 86,216 units sold in 2010.
Of the commercial vehicle segment, the light commercial vehicle category, which are mostly sports utility vehicles, accounted the biggest sales of 69,754 units or 32.3 percent higher than the 52,708 units in 2009. The Asian utility vehicle category grew 21.9 percent to 36,903 units as against 30,262 units in 2009.
http://www.mb.com.ph/node/297465/auto-indu
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