Slower Growth But Comeback Still Possible

December 2006 | BMI View

Although the 10% growth in Philippines new vehicle sales in 2005 may be out of reach this year, a recovery is still on the cards following a poor first half to the year. After a 3% decline in sales during the first six months, the market rallied to register growth of 1.6% for the year to November and according to BMI's recently published Philippines Automotives Report, the upswing is set to continue to ensure full-year growth. The report highlights a revision in BMI's sales forecast to sales of 99,500 units, reflecting marginal growth of 1.95%

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