Auto industry continues to shift to higher gear with double-digit growth
Although the month on month sales for the PC yielded an 11% decline due to low stock levels of new models launched, the sales for the segment still proved to be strong with a total 5.9% growth for the year selling over 19,000 units for the year so far.
CV sales continue to dominate the market with a robust growth of 24.6% for the first half of the year so far. June showed an uptick of 7.5% in sales versus May. CV segment continues to be the driver of growth for the total auto industry selling over 35,200 units so far.
New models for the AUV segment continues to support the strong growth with almost 15,000 unit sales for the first half of the year yielding a 27.4% growth so far.
Sales of the LCV segment continues to be the strongest CV segment with over 18,800 units sold so far. The popular vans, pick up trucks, and compact wagons are the source of growth for the segment. The strong growth of 21.5% is seen to continue in the coming months. Fleet deliveries also boosted sales for the segment. Buyers have much to look forward to, with model launches slated in the 2nd half of the year.
Light Trucks sales increased significantly by 35% compared to the same period last year sustained by sales of new models. For this month, this segment however decreased by 7% compared to May due to limited stocks.
Cat IV & V sales for June increased significantly by 45% compared to the month of May due to fleet deliveries. Compared to the same period last year (Jan-June 2006), sales also increased by 47%. Growth was mainly driven by sales of the front and rear engine bus models.