Commercial vehicles remained the key driver for September sales, registering 69.45 percent higher purchases month-on-month to 22,099 from 20,818 in August.

Car firms sold 7.5 percent more units in September — the bulk of which were commercial vehicles — boosting optimism in the automotive industry as public spending ramps up in time for the upcoming holiday season.

A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association (CAMPI-TMA) released to reporters on Tuesday noted that member companies sold 31,820 during in the month, up from 29,599 units in August.

Year on year, the figure is also up 2.3 percent compared to the 31,116 units sold in September 2018. This also brings year-to-date auto sales higher by 2.38 percent to 267,364 units from 261,161 units in the same period in 2018.

To date, CAMPI-TMA has achieved 65 percent of its target to sell 410,000 units in 2019, after the industry’s sales slumped 16 percent to 401,803 last year due to higher taxes on vehicles paired with soaring inflation in the latter part of 2018.

Commercial vehicles remained the key driver for September sales, registering 69.45 percent higher purchases month-on-month to 22,099 from 20,818 in August. Sales in the segment also grew 2 percent annually from 21,675 units in the same month last year.

This is followed by light commercial vehicles which grew 79.13 percent to 17,488 units in September compared to 16,488 units in August, although the number is 0.8 percent lower from 17,626 units in the same month in 2018. Sales in the passenger car segment rose 3 percent annually to 9,721.

“CAMPI has expected this recovery coming into the last quarter of the year… September is traditionally the start of an upward trend in sales as the public begin to spend for the upcoming holiday season,” CAMPI president Atty. Rommel Gutierrez said.

“Indeed, we welcome this positive growth as this is a good indicator of the increasing and widening demand for vehicles that has been the trademark of our industry. We are optimistic that the industry is well-positioned and prepared to progressively get back on track towards strong positive growth in the coming months,” he added.

Meanwhile, year-to-date, AUV sales declined 31 percent to 26,348 units even after registering 14 percent higher sales in September. Demand for lightn trucks shot up in the month with 31.5 percent higher sales to 751 units, bringing sales in the January to September period up 5 percent.