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May 2006 | Industry Forecast

Autos industry representatives forecast 8% growth for 2005. Based on the unexpected rally of the AUV and light commercial vehicle segment throughout the year, BMI was inclined to adjust its sales forecast for 2005 upwards to 8% in line with the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association. However, CAMPI released data showing growth of over 10% in the new vehicle market in 2005 to 97,603 units. Growth was largely driven by strong consumer demand as the economy registered 5% growth. Passenger cars accounted for 35,361 units, which means that the utility segment was

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