New vehicle sales in the Philippines declined by almost 8% to 36,174 units in August 2025 from 39,155 units a year earlier, according to members’ wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).
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The Philippine vehicle market has begun to weaken in recent months, after three years of strong growth from the 2021 pandemic lows. The country’s economy expanded by 5.5% year-on-year in the second quarter, up from 5.4% growth in the first quarter, supported by slightly higher household spending growth. The central bank has cut its benchmark interest rate by 25 basis points six times in the last year, to 5.0% from a peak of 6.5%, to support domestic growth.
In the first eight months of 2025, the vehicle market was slightly higher at 305,381 units, compared with 304,765 units in the same period last year, driven by an 9% rise in commercial vehicle sales to 244,023 units, while sales of passenger vehicles fell by 24% to 61,358 units.
Toyota reported a 4% sales increase to 146,357 units in the eight-month period, helped by the launch of the new entry-level Hilux Tamaraw last year; followed by Mitsubishi Motors with 57,908 units (-1%); Nissan 15,160 units (-17%); Ford 14,940 units (-21%); and Suzuki 14,519 units (+10%).
Sales of electrified vehicles amounted to 18,439 units year-to-date, including 14,585 hybrid electric vehicles (HEVs), 3,278 battery electric vehicles (BEVs), and 576 plug-in hybrids (PHEVs). Not all brands are covered, however, including China’s BYD, which is a key player in this segment. Last year, the government expanded its EO12 zero-tariff incentive programme, which runs until 2028, from just zero emission vehicles to also include hybrid vehicles.
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By GlobalDataCAMPI recently said it remains optimistic that the vehicle market will continue to expand in the second half of the year, forecasting full-year sales to reach 500,000 units – up from 467,252 units in 2024.
Michael L Ricafort, chief economist at Rizal Commercial Banking Corporation, suggested that after an intense typhoon season, improved weather conditions and lower interest rates would help support the vehicle market in the final months of the year.
