Imported cars sales up 20 pct in October

MANILA, Philippines (Xinhua) - Sales of imported cars in the Philippines went up by 20 percent on year to 3,101 units in October, local distributors said today.

The Association of Vehicle Importers and Distributors (AVID) said in a report that sustained demand for imported passenger cars and light commercial vehicles allowed distributors to again post a double-digit hike in sales last month.

AVID said sales of passenger car segment expanded by 29 percent on year to 1,655 units while light commercial vehicles sold in October rose by 10 percent on year to 1,446 units.

"We are confident that the industry will achieve a double-digit growth for the year on the back of price stability and competitive promotions of auto players," AVID said in its report.

In the 10 months to October, local distributors sold a total of 30,114 units, 19 percent higher than the 25,374 units sold in the same period last year.