VEHICLE sales in the Philippines rose for the ninth consecutive month in September. However, growth slowed to single-digit rate for the first time this year.
Data released by the Chamber of Automotive Manufacturers of the Philippines Inc. or Campi and Truck Manufacturers Association showed that new car sales reached 38,628 units during the month, higher by 9.5 percent than the 35,282 units sold in the same month a year ago.
The second highest sales volume this year was recorded back in May, when sales grew 44.8 percent to 38,177 units.
September’s sales performance brings the year-to-date vehicle sales to 314,843 units, posting a 26.9 percent increase from the 248,154 units sold in the same period last year.
Campi has revised its sales forecast this year, projecting it to reach 423,000 units, or a 20 percent growth from 2022.