TMP said the automotive industry has remained resilient despite geopolitical tensions and global energy security concerns. “Despite a market softening due to recent geopolitical headwinds and global energy security issues, TMP cited the automotive industry’s quick pace to rebound after a brief economic pressure,” the company said. The outlook comes after the Department of Energy announced lower pump prices this week following softer global oil prices. TMP remained the country’s largest automotive company in the first half, despite a 9.3% decline in end-June sales to 100,909 units. The Philippines remains Toyota’s third-largest market in Southeast Asia and its 10th largest market worldwide.