Car sales start 2018 with a 15% plunge

Automobile sales continued to contract at the start of the year, plunging 15 percent to 26,888 units from a year earlier following double-digit declines for both the passenger car and commercial vehicle segments.

The drop, however, narrowed from December’s nearly 30-percent contraction, which capped a full-year 16-percent sales decline for the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association (TMA).