Online seller projects car sales to beat target

CEBU, Philippines - Online car seller Carmudi says car sales this year can surpass the target considering the strong sales posted in the first quarter.

 Carmudi Philippines Managing Director Abhishek Mohan said the local auto industry will exceed the 350,000 to 370,000 target for 2016. Car sales last year hit 288,609 units.

 The Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association reported 106,176 car sales in the first quarter this year.

 "It's only four months into the year and they have already covered almost one-third of their annual target. Based on this trend, sales should continue the upward trend as the year progresses," Mohan said.

 Sales trend has been in the upswing in the last five years would likely continue through 2020, he said.

 Mohan noted that Filipinos have shown a strong aspiration of owning a car.

 He cited the Philippines placed third last year on the fastest growing vehicle sales in Southeast Asia next to Singapore and Vietnam.

 He attributes the strong sales to the consumers' easy access to the Internet which gives them informed choices on preferred car models.

 But he also advised prospective buyers to be cautious.

"There is nothing worse than investing a vehicle without the full and real details. I suggest to use only trusted sites with safeguards against misinformation," he said.

 Previously, he said the government's Comprehensive Automotive Resurgence Strategy (CARS) aims to make vehicles more affordable and increase the contribution of the auto industry in employment terms.

 The CARS program provides fiscal support for investments in the production of locally made car parts.  (FREEMAN)