MANILA, Philippines (Xinhua) - Sales of imported vehicles in the Philippines rose by 21 percent on year to 2,973 units in June due to higher demand for passenger cars and light commercial vehicles, local distributors said today.
This brought the January to June sales to 17,902 units, 17 percent higher than the volume sold in the same period last year, according to the Association of Vehicle Importers and Distributors (AVID).
Figures released by AVID showed that sales of passenger cars in June rose by 22 percent on year to 1,515 units while light commercial vehicle sales went up by 21 percent on year to 1,458 units.
Despite expectations of a slowdown in Philippine economy in the second semester, AVID said it remains confident that the local automotive industry will hit its sales target for 2014.