Automotive Industry Experiences Significant Growth in the Sales Figures Even After the Holiday Period
Published By : 17 Mar 2015 | Published By : QYRESEARCH
CAMPI - The Chamber of Automotive Manufacturers of the Philippines Inc. has recorded a rapid growth in the car sales in the first two months of the year even after the slowdown after ye Yuletide season. Rommel Gutierrez, the President of CAMPI stated that in general cases they experience a decline in the sales as a result of the consumers spending a huge amount during Christmas season. However, in this year they were surprised to see significant growth in the sales.
The month of February has delivered positive figures for the automotive industry owing to the sales figures which were recorded at 16828 units which are approximately 17% more than that of the figures of last year which were 14439 units. As per the association, all the product categories have recorded huge sales.
The new models of passenger cars gave customers special offers which they enjoyed since the final quarter of 2014. Owing to that, the sales of passenger car went up by 22% to record 5620 units in the month of February.
Rommel Gutierrez further added that they had anticipated a growth of 15 percent in the entire year. Looking at the sales figures of January has given a hope to the company that their targets are within an achievable limit with the help of new product launch and promotional events.
CAMPI has recorded around 19 percent rise in the sales in the last January referring to the figures from the joint marketing committee of CAMPI and TMA (Truck Manufactures Association). In the previous year the sales were around 15647 units whereas, this year the sales were recorded at 18662 units in the month of January. The figures of January sales had set a record in the last 10 years that the industry has achieved. This situation has happened in spite of the fact that in general cases, the sales of January is always down due to the spending spree of the customers for the Yuletide season.