Text: Raymond D. Young / Photos: | posted June 16, 2008 00:00
LCV's bulk of increase in sales
Commercial vehicles, particularly the Light Commercial Vehicles (LCVs), continue to contribute to the increase in sales, with 66% market share, with a YTD growth of 17%. Passenger cars are coming in second with 9.3% sales increase, or 17,173 units year to date. The increase of LCV sales reflects the motoring public's increased preference towards these kind of vehicles as they offer more value for money and double as both personal and business use. Sales in this segment is expected to increase further as new models are being introduced.
"Sales in the LCV segment, (pickups, vans, compact & full-size SUVs) continues to be the segment with the strongest growth, with a large 26.4% overall increase in sales for the first 5 months," said CAMPI President Ms. Elizabeth Lee.
With this development, automakers continue to be bullish and optimistic and pledges to excite the market more with attractive promotions and launch of new models within this year.