BAGANBAZAR GRAPHSource-attributed newsBUSINESS deskBusiness
Philippine vehicle sales slump in August amid bad weather
By Beatriz Marie D. Cruz, Senior Reporter PHILIPPINE AUTOMOTIVE SALES slumped to a four-month low in August, as weather disruptions and volatile oil prices weighed on demand, according to an industry report. However, electric vehicle (EV) sales surged during the month, reflecting Filipinos’ sustained interest in clean energy transport. In a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), total vehicle sales fell by 18.1% to 29,611 units in August from the 36,174 units sold in the same month last year. This was the lowest monthly vehicle sales since April when 27,001 units were sold. Month on month, total industry sales also dropped by 20.7% from the 37,319 units sold in July. “August new vehicle sales were affected by severe weather as dealership operations and consumer activities were disrupted,” CAMPI said in a statement. Parts of Luzon were affected by heavy rains and flooding after several tropical cyclones enhanced the southwest monsoon during the month. This led to several class and work suspensions in August. CAMPI President Jose Maria M. Atienza said he remains optimistic that auto sales will recover by yearend. “The August dip appears to be a short-term disruption rather than a reversal of market momentum,” he said. Including other industry data, total vehicle sales reached 34,390 units in August, according to the report. CAMPI-TMA data showed that passenger car sales declined by 10.6% to 6,784 units in August from the 7,591 units sold last year. It likewise dropped by 15.8% from 8,056 units sold in July. Commercial vehicle sales also slid by 20.1% to 22,827 units from 28,583 units sold a year ago. Month on month, sales dropped by 22% from the 29,263 units sold in July. Brok
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