Car sales growth slows to 7-mo. low

Vehicle sales in the Philippines grew by 2.5 percent in April, which marked the slowest growth in seven months, amid a sharp decline in passenger car sales.

- BY DEXTER BARRO II

A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that sales in the first four months of the year reached 150,654 units.

In comparison, 146,920 cars were sold in the country from January to April in 2024.

At a growth rate of 2.5 percent, this is the slowest increase in sales since the 2.4 percent sales growth in September of last year.

Last month, car sales rose by six percent. Taking into account April alone, the month's sales fell 10 percent from March's 40,306 units to 33,580.

The slowdown in sales last month is driven by the weakening demand in the passenger car segment, with 6,498 units sold, a 23-percent decline from the 8,449 units in March.