LAST month, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) announced a rather ambitious target of 468,000 units to be sold for the year 2024. This was revised from an earlier unofficial, off-the-record figure of 500,000 for this year.
Many observers from other industries raised their eyebrows because even though the economy appears to be on the rise, the revenge purchases that followed the end of the pandemic lockdown are actually on the decline.
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