Campi sales target for 2026 slipping out of reach
The Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) is no longer optimistic about hitting its initial target of 500,000 vehicle sales this year, as rising fuel prices driven by the Middle East crisis have tempered demand.
Campi president Jose Maria Atienza said on Wednesday the 500,000-unit sales target for 2026 “is not actually our main goal,” taking into account the effects of the ongoing conflict on both Filipino consumers and their industry.
Atienza said on the sidelines of the 10th Philippine International Motor Show Press Conference in Taguig City that the Middle East crisis is the “biggest factor” affecting not only the automotive industry but commodity prices and consumers’ buying power as well.
Atienza said Campi would recalibrate their targets in light of this situation, expecting soft demand to likely persist throughout the year.
The Campi top official pointed to the sector’s strong performance in the first semester of 2025 until car sales significantly declined in the second half due to “some socio-economic issues during that time, political issues as well.”
“What we saw in January and February [2026], is just a continuation or even an improvement from second half of last year. It’s good,” [but] then this fuel crisis came,” Atienza said.
Despite this, Atienza said sales of electrified vehicles jumped by around 40 percent compared to a year ago as consumers opted for nontraditional vehicles to cope with higher pump prices.
“There’s a lot of choices for the customers,” he told reporters.
Despite the grim outlook, Mitsubishi Motors Philippines Corp., the local unit of Japanese automotive giant Mitsubishi, reiterated its plans to invest around P7 billion in locally made hybrid electric vehicles under the government’s electric vehicle promotion program, the Electric Vehicle Incentive Strategy (Evis).
The multibillion investment covers manufacturing and development costs at its existing facility in Santa Rosa town in Laguna.
Mitsubishi Motors Philippines did not divulge additional details about the planned investment in the country, pending the issuance of an executive order detailing incentives for electric vehicles.
“We’re waiting for the EO to come out first,” Mitsubishi Motors Philippines Vice President for Government Affairs Victor Vinarao said.
Vinarao said the company was considering local sourcing of parts, although the plan has not been firmed up.
Evis replaced the Revitalizing the Automotive Industry for Competitiveness Enhancement program, an offshoot of the Comprehensive Automotive Resurgence Strategy (Cars) program.
Launched in 2015, Cars program is a P27-billion incentives scheme aimed at supporting local vehicle production.
