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Auto industry harvests fruits of bank rate cuts.
Byline: May Czarina A. Baetiong
Government's efforts to keep interest rates at historic lows are beginning to benefit the automotive sector as vehicle sales for March improved 3.7%, an indication of a possible growth for the automotive industry.
The launch of new vehicle models likewise kept buyers at the showrooms of car companies as sales went up 6,560 units for March as against 6,328 units for the same period last year, based on figures from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).
Based on the January-March period, vehicle sales are poised for a rebound with decline at only 0.2%. A total of 17,985 units were …
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