The Chamber of Automotive Manufacturers of the Philippines Inc (Campi) and the Truckers Manufacturers Association are optimistic that it will achieve a 16 % growth this year, with passenger and commercial vehicles expected to account for 40% and 60% of total sales, respectively.
This is after sales last year jumped 30% (from 181,283 units to 234,747 units).
Campi president Rommel Gutierrez said that the improvement in the economy, higher government spending in preparation before next year’s national elections and the positive impact of falling oil prices in the world market would result in higher vehicle sales.