The Philippine CV market rebound continues in Q4
By Will Pulson - 7th March 2022
The Philippines - The market for commercial vehicles over 2 tons gvw in the Philippines continued to recover in the fourth quarter of 2021, by over 23% to record 28,223 units after declining by 32% to 22,860 units in the same period of the previous year, according to www.AsiaMotorBusiness.com analysis of data sourced from the industry.
The Philippine economy expanded by 7.7% year-on-year in the fourth quarter of last year after growing by 6.9% in the third quarter, resulting in full-year growth of 5.6% after plunging by 9.6% in 2020 – the first year of the pandemic when economic activity was impacted by prolonged lockdowns across the country.
