CAR SALES DOWN 26%
Manila, Feb. 12, 1998 - Total sales of vehicles last month dipped by 26% to 8,586 units, down from 9,340 units in January of 1997, according to a report from the Chamber of Automotive Manufacturers of the Philippines.
Top seller was Toyota, which unloaded 2,033 units or 23.7% of the market. Mitsubishi Motors came in next with 11,747 units or 20.3% of the total monthly figure. Columbian Autocars is third with 1,566 units.
Vehicles manufacturers in the Philippines expect a 23% overall drop in total sales this year due to tight credit and high interest rates.
Reported by: Sol Jose Vanzi
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