Sales of vehicle importers rose 5 percent to 7,320 units in October from the September level of 7,000 units, the Association of Vehicle Importers and Distributors Inc. said Friday.
Ten-month sales, meanwhile, slipped 3.3 percent to 71,396 units from 73,809 units year-on-year.
AVID remains optimistic the automotive industry’s performance would make headway in the last two months of the year.
“Lower inflation, interest rates, and fuel prices coupled with increased consumer spending with the start of the holiday season could boost industry performance. Increased government spending on key infrastructure projects and the jeepney modernization program will further bolster demand, especially for light and heavy commercial vehicles,” said AVID president Ma. Fe Perez-Agudo.
Sales of passenger cars segment rose 2 percent month-on-month to 2,591 units in October from 2,544 units in September.
Hyundai kept its industry leadership in the segment with 1,457 units sold in October, followed by Suzuki with 690 units.