Philippines vehicle market down 9% in November [Yahoo! Finance]
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Source: Yahoo! Finance
data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA). The market has begun to slow in recent months, after three years of strong growth from the 2021 pandemic lows. Economic growth in the country slowed to 4.4% year-on-year in the third quarter of 2025, down from 5.5% in the second quarter, the slowest growth since 2021. Household spending growth slowed to 4.1% from 5.3%, despite the central bank having cut its benchmark interest rate by 200 basis points to 4.50% in a little over a year. The Philippines was affected by a high number of severe typhoons in recent months, causing widespread flooding and damage in many areas of the country. In the first eleven months of 2025, the vehicle market fell by 1% to 420,776 units, compared with 425,208 units in the same period last year, underpinned by an 7% rise in commercial vehicle sales to 335,859 units, while sales of passenger vehicles fell by 23% t
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