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THE
local auto industry was hit anew by the traditionally
low January sales as vehicles sold for the month went
down by 2.9 percent from the same period last year.
The
joint report of the Chamber of Automotive Manufacturers
Association of the Philippines Inc. (Campi) and Truck
Manufacturers Association (TMA) said total vehicles sold
last month went down to 7,521 units from 7,742 in
January 2006.
“Due to
the seasonality and cyclicality inherent in auto sales,
lower sales in January relative to other months is
expected most especially coming off of the seasonally
high month of December,” Elizabeth Lee, Campi’s
reelected president, said.
In
December 2006, the industry sold a total of 10,099
units. Overall sales in 2006 reached 99,541 units.
Despite
the slow start, Lee said the industry is confident sales
will pick up this year as auto assemblers seek to
finally breach the 100,000-unit sales mark in a decade.
Factors favoring a pickup: the positive effect of the
strict ban on used car imports, sustained strength of
the peso and the upcoming elections, she said. |
