The Philippine market for commercial vehicles over 2 tons gvw declined by 10% to 30,656 units in the fourth quarter of 2023 from 34,131 units in the same period of the previous year, according to analysis of data from various industry sources.

The market for commercial vehicles over 2 tons gvw continued to grow strongly in the third quarter of 2023, by 18% year-on-year to 32,128.

The Philippines market for commercial vehicles over 2 tons gvw continued to edge lower in the second quarter of 2023 following a strong rebound to 28,002 units in the same period of last year.

The Philippine market for commercial vehicles over 2 tons gvw shrank by more than 3% in the first quarter of 2023 after growing by 12% in the same period of last year.