bin picking – Consumer reaction to rising inflation, tax reform blamed for drop in vehicle sales
Vehicle sales fell 21.7 percent for the fifth month in a row in June.
This was blamed mainly on the consumers’ reaction to a rising inflation and the tax reform program that made most vehicles more expensive.
Sales reached only 29,350 units in June, down from the 37,479 units in the same month last year, according to the joint data of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and Truck Manufacturers Association (TMA).
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