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Philippines Autos Report Q3 2013

Philippines autos market: 21% growth between 2012-2013


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2014-02-12 11:11:02 - Philippines Autos Report Q3 2013 - a new market research report on companiesandmarkets.com

Vehicle sales in the Philippines in April were 14,888 units, up 21.0% year-on-year (y-o-y). Sales in the first four months of 2013 were 56,590 units, up 26.0% y-o-y. With sales continuing their double-digit expansion, market demand remains inordinately strong.

While sales are in line with our bullish outlook on the Philippines, we have decided to upgrade our forecast to take into account the strong start to the year. We are upgrading our passenger car sales growth forecast to 11%, to 54,000 units, from 8.2% previously, but maintaining our commercial vehicle (CV) sales growth forecast at 11%, to 120,000 units. This will then upgrade our total vehicle sales growth forecast to 11%, to 174,000 units, from 10.1% previously.

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