The automotive industry will reach another all-time high in 2015. According to Atty. Rommel Gutierrez, the President of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), the entire automobile industry is set to exceed 320,000 units this year.

The new projection is the latest adjustment made by CAMPI after they initially estimated that the Philippine auto industry will hit 300,000 units, followed by another adjustment to 310,000 units. The 320,000 unit projection represents an 18.5% growth rate over the almost 270,000 units that the industry sold in 2014.

CAMPI's projection takes into account estimates for the Truck Manufacturers Association (TMA) as well as the Association of Vehicle Importers and Distributors (AVID). In a press conference earlier this year, CAMPI officers outlined that they are targeting 500,000 annual sales by 2020.