Philippines enjoys a 10% bump in sales in Q4 2024
By Will Pulson - 8th April 2025
The Philippines - The market for commercial vehicles over 2 tons gvw grew by 10% to 33,704 units year-on-year in the fourth quarter of 2024 after declining by 10% to 30,748 units a year earlier, according to data from various industry sources.
The Philippine economy expanded by 5.2% year-on-year in the fourth quarter, the same rate of growth seen in the third quarter, with household spending growth slowing to 4.7% from 5.2% while fixed investment increased by 4.8% compared with 7.6% in the third quarter. This was offset by a 9.7% rise in government spending, up from 5% growth in the third quarter and from weak year-earlier levels.
