CV sales in the Philippines witnesses strong growth in Q4 and year-on-year growth of 26.5%
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By Will Pulson - 30th March 2023
The Philippines – The Philippine market for commercial vehicles over 2 tons gvw continued to grow strongly in the fourth quarter of 2022, by 21% to 34,131 units from 28,223 units in the same period of the previous year, according to analysis of data from various industry sources.
Philippine GDP growth slowed moderately to 7.2% year-on-year in the fourth quarter of last year from 7.6% in the third quarter, with economic activity underpinned by strong consumer spending and exports as the country continued to bounce back from the Covid pandemic.
