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MANILA, Philippines – Vehicle sales in the Philippines continued to weaken in April, with the industry pinning the blame on the Middle East crisis for softening consumer demand, although that same conflict fueled a sharp rise in electric vehicle (EV) sales.
A total of 27,225 units were sold in April, down 18.9 percent from 33,580 units a year earlier, based on joint data released by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association on Sunday.
This marked a sharper deceleration than in March — the first full month after the escalation of the conflict involving the United States, Israel and Iran — when industry sales fell 10.4 percent to 36,104 units year-on-year.
READ: Auto sales pulled back by 9.8% in Q1 on Middle East crisis
