MANILA, Philippines — Car sales soared to a 4-month high in June to post another double-digit growth, as low base effects from last year’s pandemic-induced slump continued to bloat the figures. What’s newCarmakers sold 22,550 units in June, up 44.8% year-on-year, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported on Tuesday. Why this mattersEconomic officials usually track auto sales as it is typically used as an indicator of the economy’s health. From January to June, the industry sold 132,767 units, up 56.1% on-year. Both CAMPI and TMA are forecasting a 30-percent sales growth this year.

Source: Philippine Star July 13, 2021 03:11 UTC