Despite a considerable 10.2 percent decline in automotive sales for the month of August versus July, the overall industry continued its robust growth with 37 percent increase in the first eight months this year to 112,454 units from 82,081 units in the same period last year.

Chamber of Automotive Manufacturers of the Philippines Inc. president Elizabeth H. Lee attributed the negative sales in August due to seasonality, delays in the delivery and unavailability of stocks.

Sales in August reached only 14,335 units or 10.2 percent lower than the 15,972 units sold in July.

CAMPI reported that commercial vehicles (CV) continue to dominate nationwide sales with a 65.2% market for a total of 73,328 units sold. The passenger cars segment sold a total of 39,126 units or 34.6 percent higher than the 29,064 units sold in the same period last year.

Under the CV segment, LCVs remain the segment that shows the best potential for growth, consistently showing the strongest increase in sales with a 45.8% growth this far, selling 47,352 units this far.

AUVs likewise showed strength, growing 29.9%, selling 24,184 vehicles to date.

“Overall, vehicle sales for this year 2010 continue to largely outpace last year’s sales results drawing a stark difference in the rise in consumer and business confidence reflected in vehicle purchases,” Lee said.

“Rising confidence is further supported by the global recovery from the recent recession. Continued robust sales are seen in the coming months with the Chamber having to revise yet again, our target forecast for the year,” she adds.

The revised forecast will be shared in the next few days after further validation by each CAMPI member.

“This year is looking to be the year that the local auto industry will surpass the highest sales ever attained in 1996 of over 162,000 units.”