MANILA, Philippines - Lexus Manila Inc., the official distributor of Toyota's luxury brand in the country, reported a 46% jump in sales in the first 8 months of the year.
Lexus Manila president Daniel M. Isla said 220 units were sold in January to August period, more than half of its full-year target of 388 units.
Isla said Lexus Manila sold 41 units in July.
"Our 46% growth over last year came amidst a growth decline of 16 percent of the luxury market segment in the same period," Isla said.
Overall, the local industry is seeing slower sales of luxury vehicles, partly due to the Bureau of Internal Revenue's campaign against atx evaders.
"Maybe people now are just more careful about the brand of cars they will buy because they might get the attention of the BIR," Isla said.
So far this year, Lexus has brought in six new models.