BusinessWorld
February 12, 2021 | 12:31 am
Car sales slipped by 1.4% in January, industry data showed. PHILIPPINE STAR/MICHAEL VARCAS
THE AUTO INDUSTRY is showing hints of recovery, as car sales in January dipped by 1.4% year on year, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported on Thursday.
The joint report said that sales fell to 23,380 units in January, from 23,723 in the same month in 2020, as passenger car sales growth failed to offset the continued drop in commercial vehicle sales.
In a statement, CAMPI said the slight year-on-year decline in January sales was a “positive sign” that the industry was slowly recovering.
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