Passenger car sales dip 12.1 percent in June
Balita News
percent year-on-year in June, an industry association said here
Thursday.
The Chamber of Automotive Manufacturers of the Philippines said
2,568 units were sold in June compared to 2,922 in June, 1998.
Total sales in the first six months of the year amounted to
13,486 units, a 32.8 percent decrease over the same period last
year, the chamber said.
However the chamber said car sales in June were up 7.3 percent
over sales in May.
It attributed this to active promotion campaigns by some
assemblers and to announcements that some auto companies were going
to start raising prices in July.
The chamber also credited low interest rates which may have
encouraged more spending by corporations.
The local assembler of the Honda brand cars was the biggest
seller for the month and the first half of the year, selling 946
units in June and 5,402 units in the six months to June.
It was followed by the local assemblers of Toyota and
Mitsubishi, the chamber said.
Philippine automobile sales have been sluggish for months as the
country reels under the effects of the Asian currency crisis.