Vehicle sales seen rising by 12%

The volume of vehicles sold in the Philippines is primed for a 12-percent growth this year to reach about 577,000 units amid a government drive to upgrade jeepneys and increase in domestic production, according to Frost & Sullivan. The US-based consultancy firm said the projected Philippine economic growth of up to 7 percent yearly over the next five years would drive sales of new passenger cars. Paulo Jose Mutuc, senior consultant on mobility at Frost & Sullivan, said in a statement the manufacturing industry in the Philippines had grown by over 7 percent since 2010, and that Toyota Motor Corp. and Mitsubishi Motors Corp. were increasing their local production capacity thr...

Keep on reading: Vehicle sales seen rising by 12%