Filipinos are buying fewer cars, but more of them are electric

Philippine vehicle sales fell 18.1% in August, while electric vehicle sales more than tripled year-on-year.

August vehicle sales in the Philippines fell 18.1% year-on-year to 29,611 units, while electric vehicle sales more than tripled, pointing to a car market where overall demand is weaker but EV adoption continues to accelerate.

The figures from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association Inc. (TMA) brought eight-month sales to 271,336 units, down 11.1% from 305,381 a year earlier. Including other brands, total industry sales reached an estimated 34,390 units in August.

CAMPI said bad weather in August dampened sales and interrupted the recovery recorded in June and July.

But while overall vehicle sales weakened, electric vehicle sales among CAMPI-TMA members surged 214.9% to 7,069 units, from 2,244 a year earlier.

That pushed eight-month EV sales among CAMPI-TMA members to 45,403 units, up 146.2% from 18,439 last year. Across the entire industry, including brands outside CAMPI and TMA, EV sales reached 74,600 units in the first eight months, more than double last year’s level.

EVs accounted for 34.5% of total industry sales in August, their second-highest share so far this year.

The numbers show a car market dealing with weaker overall demand while electric vehicles are taking up a much bigger slice of what Filipinos are buying. CAMPI said the group remains optimistic that vehicle sales will recover toward year-end.

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