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The Philippines CV segment enjoys modest growth in Q2

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By Will Pulson - 9th October 2024

Philippines - The Philippine market for commercial vehicles over 2 tons gvw continued to grow in the second quarter of 2024, by just over 4% to 29,273 units from 28,094 units a year earlier, based on analysis of data from various industry sources.

Philippine economic growth accelerated to 6.3% year-on-year in the second quarter from 5.8% in the first quarter, driven by a sharp increase in government spending and strong fixed investment growth.

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