Vehicle sales in the Philippines climbed by a third again in December of last year, driving the annual tally above the 300,000 mark—a level not seen since the outbreak of the coronavirus pandemic nearly three years ago. | AldenMonzonINQ /PDI
“With this, Campi-TMA sales alone has exceeded the total industry sales forecast of 336,000 units,” said Gutierrez, adding that this is strong evidence that the industry has recovered from the impact of the pandemic and other external challenges.
The Campi official added that the continued expansion of the economy, as well as the creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year.“Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles,” Guiterrez also said.
It is also the highest annual sales figure since 2019, the year before the global pandemic outbreak, when the Philippines’ annual vehicle sales stood at 369,941 units.For more than a decade before the onset of the COVID-19 pandemic, motor vehicle sales in the Philippines have been growing steadily at a rate of around 20 to 30 percent a year.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PhilSa warns public vs falling debris from China space launch vehicle | Jonathan L. MayugaThe Philippine Space Agency (PhilSA) has warned the public against unburned debris from China’s Long March 7A space launch vehicle that is projected on fall two identified “drop zones” in the Philippines. In an advisory issued on January 9, PhilSA advised the public to take necessary precautions related to space vehicle that was launched from Wenchang Space Launch…
Read more »
Philippines to see decline in debt burden in 2023 - BusinessWorld OnlineTHE PHILIPPINES will likely see its debt decline this year amid continued economic growth, Moody’s Investors Service said on Monday. “For only a few sovereigns, including Fiji, Maldives and the Philippines, debt burdens will decline by several percentage points in 2023, driven by high nominal GDP (gross domestic product) growth,” Moody’s said in a Jan. […]
Read more »
Philippines central bank sees inflation ‘back to normal’ near 3% later this yearMANILA - Philippine inflation is likely to be closer to 3 percent in late-2023 and in 2024, central bank governor Felipe Medalla said on Tuesday. Medalla, speaking at a media forum, also said
Read more »
Philippines mulls more onion imports amid inflation fearsMANILA — The Philippines is looking into importing onions for immediate delivery to boost a tight supply and bring down exorbitant prices that have
Read more »
Philippines to import 21,060MT yellow, red onions to temper pricesThe Department of Agriculture has given the green light for the importation of 21,060 metric tons of onions to fill a supply gap and arrest the continuous spike in the price of the commodity in the market. Read the details here:
Read more »
Philippines borrows $3 billion in triple-tranche bond offeringThe Bureau of the Treasury says strong demand helped lower interest rates.
Read more »