Vehicle Sales Rise As BoI Prepares For Competition

The Philippines outperformed its ASEAN neighbours with vehicle sales rising around 20% year-on-year (y-o-y) in October, and up 12.9% from September. This compared to double-digit declines in Thailand, Malaysia and Indonesia, according to the Chamber of Automotive Manufacturers of the Philippines (CAMPI), which attributed the growth partly to consumers replacing flood-damaged vehicles. Despite reporting stronger sales than its regional neighbours, CAMPI President Elizabeth Lee added that the Philippines was still playing catch-up in volume

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