Philippines CV market rebounds from low levels
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By Will Pulson - 1st June 2021
The Philippines - The Philippine market for commercial vehicles over 2 tons gvw expanded by over 6% to an estimated 24,901 units in the first quarter of 2021 from 23,374 units in the same period of last year, based on www.AsiaMotorBusiness.com analysis of data from various industry sources.
The market rebounded from weak year-earlier levels, particularly in March, despite economic activity in the country declining by a worse-than-expected 4.2% year-on-year in the first quarter – with consumer and business sentiment affected by a resurgence of COVID-19 infections and the slow rollout of vaccines in the country.
