New vehicle sales in the Philippines fell by 3.2% to 26,176 units in February from 27,040 units in the same month of last year, according to member data released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).

The data donot include some significant brands in this market, including Hyundai, Chevrolet and Subaru.

CAMPI president Rommel Gutierrez attributed last month's moderate decline to a market adjusting to a new tax structure introduced in the Philippines at the beginning of the year.

Last month, sales of passenger cars fell by over 10% to 8,192 units, while sales of commercial vehicles were flat at 17,984 units.

Total vehicle sales in the first two months of 2018 were just 0.6% higher at 57,821 units from 57,465 units in the same period of last year.

Toyota's sales in February are estimated at 10,430 units based on market share data released by the associations, followed by Mitsubishi with 5,800 units; Ford 2,080 units; Honda 1,870 units; and Isuzu 1,210 units.

Separately Hyundai Asia Resources reported flat sales of 2,649 units in February and a 1.5%rise to 5,552 units in the first two months of the year.