AUTOMOBILE SALES in the Philippines registered a double-digit annual growth in August but saw a month-on-month sales decline amid elevated inflation.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed new vehicle sales rose by 21.6% to 36,714 units in August from 30,185 units in the same month a year ago.
“Consumer demand drives the auto sales further… from an already considered pre-pandemic performance a year prior amidst the above inflation target recorded anew in the same period,” CAMPI President Rommel R. Gutierrez said in a statement.
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