Automotive sales registered negative growth in the first month of the year amid the Taal Volcano eruption.
The Chamber of Automotive Manufacturers of the Philippines reported that January 2020 sales declined by 11.8 percent to 23,723 units from 26,888 units a year ago.
The slump in sales was attributed to the effect of the Taal Volcano eruption to vehicle assemblers and dealerships which are mostly located in Region 4-A as companies were forced to suspend operations due to safety reasons.
Sales of passenger cars, which accounted for 32 percent of last month’s sales, dropped by 23 percent to 6,543 units from 8,487 units in January 2019.
Commercial vehicle sales also decreased to 17,180 units in January 2020, down by 6.6 percent from 18,401 units in the previous year. This segment comprised 68 percent of total sales last month.