New vehicle sales in the Philippines rose by 21.7% to 25,150 units in February, compared with 20,663 units in the same month of last year, according to a report released jointly by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).
The data does not include sales of some key non-affiliated brands, including Hyundai, Chevrolet and Subaru, which together typically account for around 15% of the total market.
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The country's domestic economy continued to grow strongly, driven by a sharp increase in public sector and consumer spending. This is fuelling strong service sector growth and construction activity.
Passenger car sales rose by 20.5% to 9,819 units last month, from 8,149 units a year earlier, while commercial vehicle sales were up by over 22% at 15,331 units – reflecting strong demand for all vehicle categories.
Sales of light trucks were helped by strong demand for new models such as the Toyota Hilux. Strongest growth was reported in the heavy-duty diesel segment, which expanded by 91% to 296 units according to the TMA, driven by particularly strong demand from the construction sector.
Total vehicle sales in the first two months of the year were up by 24.5% at 48,958 units, compared with 39,325 units in the same period of last year.
