Car sales down anew but industry optimistic

Vehicle sales plunged anew in October, automakers reported on Tuesday, extending a run of declines — blamed on tax hikes and higher inflation — that began in February.

In a joint report, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) said sales totaled 33,150 units last month, down by 9.2 percent from a year earlier.