Philippines: New car sales down 24.9% in January image

New vehicle sales in the Philippines fell 24.9 percent in January to 8,296 units, from 11,050 a year earlier Chamber of Automotive Manufacturers of the Philippines told inautonews.

According to the same source, passenger car sales showed significant decline of 27.9 percent with January sales hitting only 2,214 units as against December sales of 3,072 units.

Sales of light commercial vehicles (LCVs), the fastest selling vehicle segment, reached only 5,887 units last month compared to 6,725 units sold in January 2011.
Trucks were not spared, with sales plummeting 44 percent to 171 units from 306 in January 2011. Bus sales fell 11 percent to 24 from 27 a year ago.

However, the Philippine car industry will recover this year with sales increasing by 7 percent to 177,000 units from 165,000 in 2011, Rommel Gutierrez, Chamber of Automotive Manufacturers of the Philippines president, told.

Last year, domestic sales fell 4 percent to 144,600 units because of disasters that hit Japan and Thailand, where most vehicle parts come from.