Electric vehicles buck downturn in February automotive sales
Robust electric vehicle (EV) demand bucked a broader slowdown in Philippine automotive sales, which fell 8.5 percent year-on-year in February, as soaring fuel costs linked to the Middle East conflict cloud the outlook.
Joint data released on Wednesday by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association showed their members sold a total of 35,842 units in February.
This was down from 39,164 units a year earlier but higher than the 33,696 units sold in January, reflecting improved supply conditions.
“We experienced an expected drop in January, partly caused by the leaner supply as an effect of the strong buyer demand we saw in December,” said Campi president Jose Maria Atienza.
Even so, EV sales rose 18.7 percent month-on-month to 3,098 units in February from 2,610 in January. Year to date, EV sales jumped 66.9 percent to 5,701 units from 3,416 units a year earlier.
Mideast impact
For the first two months of 2026, total sales reached 69,538 units, down 9.4 percent from 76,768 units in the same period last year.
Atienza said the industry expects elevated pump prices—with diesel now hovering above P100 per liter—to influence consumer behavior ahead.
In turn, automakers have been expanding and diversifying their lineups with more fuel-efficient and electrified models to offer “more economical options” to buyers, he added.
Toyota Motor Philippines Corp. remained the top EV brand, selling 3,012 hybrid units in the first two months. Jetour Auto Philippines Inc. led the plug-in hybrid segment with 221 units, while Tesla Motors Philippines Inc. topped the battery EV segment with 233 units.
Passenger car sales declined 13.6 percent year-on-year to 7,047 units in February. Cevsommercial vehicles, which accounted for the bulk of sales, fell 7.1 percent to 28,785 units.
Despite headwinds, Toyota increased its market share to 49.33 percent with 34,300 units sold in 2026 so far. Mitsubishi Motor Philippines Corp. ranked second with 14,361 units, followed by Suzuki Philippines Inc. (3,256), Nissan Philippines Inc. (3,143) and Ford Motor Company Philippines Inc. (2,607).
Campi said total industry sales exceeded 37,700 units in February when including brands outside its group.
