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. 

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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.

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