New vehicle sales in the Philippines fell by almost 25% year-on-year in January to 8,296 units, from 11,050 a year earlier, according to member data released by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).

Sales of passenger cars sank by close to 45% to 2,214 units, from 3,997 units a year earlier, with the association blaming inventory shortages from Thailand for the sharp drop. Sales of commercial vehicles also declined sharply, by over 15% to 6,082 units.

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Toyota reported a sales decline of almost 26% to 3,127 units; followed by Mitsubishi with 2,311 sales (+0.3%); Isuzu 727 (-29.3%); and Ford 536 (-41.9%).

The CAMPI data excludes sales of Hyundai Motor and other smaller players, which together make up over 20% of the market. Hyundai reported a much different performance than the rest of the market, however, with volumes jumping by almost 40% to 2,153.

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