US EditionEconomic forces shifting automotive industry’s gears - BusinessWorld Online
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Economic forces shifting automotive industry’s gears - BusinessWorld Online
The Philippine automotive industry has been a bright spot for the Philippine economy, accounting for 19% of the country’s gross domestic product (GDP). This significant contribution includes motor vehicle assembly, importation and distribution, rebuilding, and the manufacturing of parts and components. As a vital driver of economic activity, growth in the industry correlates with an increase in GDP. In 2024, vehicle sales reached 475,094 units,…
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