Sales of motor vehicles inched up 0.2 percent to 305,381 units on an annual basis in August, the latest market data showed.
Commercial vehicles accounted for the bulk of the sales at 244,023 units, according to the joint report the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) released on Tuesday, September 16.
The second and third largest sales were accounted for by light commercial vehicles (182,240) and passenger cars (61,358).
Toyota Motor Philippines continued to lead with 47.93 percent share, followed by Mitsubishi Motors Philippines Corporation, 18.96 percent; Nissan Philippines, Inc., 4.96 percent; Ford Group Philippines, 4.89 percent; and Suzuki Philippines, Inc., 4.75 percent.
The same report showed the rising number of electric vehicle (EVs) sales, mostly hybrid models and battery-powered EVs, which now have a market share of around 6.04 percent.
The same data showed a 7.6 percent month-on-month dip in total vehicle sales, from 38,295 units last July to 36,174 units in August.
“Despite a modest dip in month-on-month figures, the industry remains optimistic, driven by evolving consumer preferences and a growing shift toward sustainable mobility,” the statement read.
“CAMPI and TMA reaffirm their commitment to supporting innovation and advancing the automotive sector’s contribution to national development.” (PNA)
