The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) now projects a 5% to 8% decline in vehicle sales for the year, a less severe outlook than earlier estimates, according to a report by Philstar Biz .
The improved forecast reflects strengthening demand in the domestic automotive market, which had previously been expected to contract more sharply. CAMPI attributed the revision to a pickup in consumer confidence and easing supply constraints.
Industry stakeholders are closely monitoring economic indicators, including interest rates and inflation, which could further influence vehicle purchases in the coming months. CAMPI remains cautious but notes that the sector is on a recovery path.