Automotive Industry grew by 5.8% last Feb 2011

As proof that the Philippines is moving up from its economic problems, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the automotive industry grew in the first two months of 2011.

“Auto sales for the month of February grew by another 5.8 percent compared to the same period last year -a good sign, considering the high growth rate seen in 2010 whose sales were primarily boosted by election fever and the effects of typhoon Ondoy,” Elizabeth Lee, president of the Chamber of Automotive Manufacturers of the Philippines Inc. said.

The best sellers seems to be commercial vehicles (CV) with a 65 percent share, while the passenger cars (PC) filling out the 35 percent of total sales so far. However, the PC is growing a lot faster at 8.6 percent selling while the CV category only at 4.3.

Let’s hope that the Philippines can continue this rate for the whole year.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *