New vehicle sales in the Philippines declined by a further 6% to 35,722 units in September 2026, down from 37,915 units in the same month last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA). The data do not include non-member brands such as BYD, Geely, and Jetour, which have become significant players in this market.
September marked the ninth consecutive month of decline for the Philippine market, amid a sharp slowdown in economic growth in the country. The latest government data show that GDP growth slowed to 2.3% year-on-year in the second quarter of 2026, down from 2.8% in the first quarter and 4.4% for the whole of last year.
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Higher fuel prices resulting from the conflict in the Middle East have driven up inflation, prompting the central bank to aggressively hike its benchmark interest rate this year, from 4.25% to 5.50%.
In the first nine months of 2026, the Philippine vehicle market declined by over 10% to 307,060 units, from 341,753 units in the same period last year, with sales of passenger cars falling by 9% to 62,829 units and sales of commercial vehicles also down by 11% to 244,231 units. Including estimates for non-member brands, the Philippine vehicle market reached 340,740 units year-to-date.
Sales of electrified vehicles by CAMPI members surged by 164% to 54,372 units in the nine-month period, as consumers prioritized fuel-efficient vehicles following surging fuel prices. This includes a 69% rise in hybrid-electric vehicle (HEV) sales to 27,694 units, and a 338% surge in battery electric vehicle (BEV) sales to 16,006 units, while plug-in hybrid electric vehicle sales jumped 15-fold to 10,672 units.
The overall market leader, Toyota, reported an 8% sales decline to 151,457 units year-to-date, followed by Mitsubishi with 50,125 units (-23%); Suzuki 13,767 units (-16%); Ford 10,704 units (-36%); and Honda 10,089 units (-17%). BYD is estimated to have sold over 32,000 units in this period, making it the country’s third-best-selling brand so far this year after Toyota and Mitsubishi.
GlobalData expects the Philippine light vehicle market to fall by over 3% to 473,000 units in 2026, after growing by almost 4% to 489,000 units in 2025, followed by a 7% rebound to 509,000 units in 2027.
