New vehicle sales in the Philippines fell by close to 7% year on year in February to 10,681 units, according to member data released by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI).
The data covers around 85% of the market but excludes some important brands, including Hyundai.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Compared with the previous month, when sales were held back by the Lunar New Year holidays and inventory shortages from Thailand, sales increased by 29%.
While some companies continued to report stock shortages in February, the overall picture is improving. Over the two month period, sales fell by 15.7% year on year to 18,977 units from 22,518 units a year earlier.
