New vehicle sales in the Philippines declined by 5.4% to 11,558 units in August, from 12,217 units a year earlier, according to member data released by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).
The data excludes sales of some key brands, including Hyundai and Subaru, which broke away from the association at the end of last year.
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The association said key Japanese vehicle manufacturers were still struggling to catch up with demand, although a slowdown in the country’s export growth and growing concerns over the global economy is also beginning to affect confidence.
Compared with July’s 11,550 units – overall vehicle sales in August were flat. Passenger cars increased by 6.8% to 4,026 units, while commercial vehicle sales fell by 3.2% to 7,532 units.
In the first eight months of the year sales fell by 4.1% to 93,108 units, from 97,122 units a year earlier, with Toyota reporting a 6.6% volume decline to 34,190 units.
