CLOSE to 37,500 units of cars were sold during March, the Philippine automotive industry said.

This brings the year-to-date sales of vehicles to as much as 110,000 units.

According to the report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA)showed that new motor vehicle sales climbed to 37,474 units in March.

This is 1.6% higher than the sales in February 2023, bringing the year-to-date sales to 109,606 units to reflect a 12.7% increase from 97,284 units sold in the first quarter of the past year.

“YTD sales performance was driven by sustained demand for new vehicles, supported by overall supply improvement. Our Q1 performance keeps us on track to achieve our 2024 target,” CAMPI president Rommel Gutierrez said in an accompanying statement.

Also, the group said that expected sales grew by 9% for 468,000 units this year.

It grew from the 429,807 units sold in 2023, and this might increase to 500,000 as CAMPI hosts the Philippine International Motor Show (PIMS) later this year.