Philippine vehicle sales fall 1% short of 2008 target

Philippine vehicle sales fell short of target in 2008, after manufacturers sold fewer units for the third consecutive month in December, according to the Truck Manufacturers’ Association and the Chamber of Automotive Manufacturers of the Philippines. Total sales for 2008 were 124,449 units, almost 1% short of the targeted 125,500 units. Sales of commercial vehicles and passenger cars in December declined 19% year on year to 9,885 units. CAMPI President Elizabeth Lee said sales in December would have been higher “if it were not for the unusually long holidays, cutting short selling opportunities by almost two weeks.” In that month alone, sales were down 19% to 3,092 units, while 6,793 commercial vehicles were sold, down 18% year on year. (January 8, 2009)