Philippines Vehicle Sales Drop 18 Percent Year on Year

Vehicle sales in the Philippines declined in August, with a total of 29,611 units sold. This figure represents a 20.7 percent decrease from July and an 18.1 percent drop compared to the same month last year.

The Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association reported that commercial vehicles, including trucks and buses, dominated the market. These vehicles accounted for 77.09 percent of total sales, while passenger cars made up the remaining 22.91 percent.

Despite the general downturn, the electric vehicle market saw a rise in market share, growing to 23.86 percent from 18.99 percent in July. While the market share increased, the absolute number of electric vehicles sold slightly decreased from 7,089 units in July to 7,066 units in August.