Fitch unit: Robust PH economic activities solidifying vehicle sales
Manila: BMI, a unit of Fitch Solutions, said automotive vehicle sales in the Philippines will continue to grow this year supported by robust economic activities. In a commentary sent to the press Friday, BMI adjusted upward its growth projection for vehicle sales in the country from 1.6 percent last year to 8.5 percent this year, seeing a total sales of 466,500 units for 2024. BMI said this will be driven by the commercial vehicle (CV) segment, whose sales volume is expected to rise by 7 percent to 343,000 units backed by strong growth in the construction and mining sector this