From Yahoo Finance: 2025-04-16 06:39:00

New vehicle sales in the Philippines rose nearly 8% to 40,306 units in March 2025, compared to 37,474 units a year ago. The market has been growing steadily, supported by strong economic growth and a rebound from pandemic lows. GDP expanded by 5.6% last year.

In the first quarter of 2025, vehicle sales in the Philippines grew by almost 7% to 117,074 units, driven by a 14% increase in commercial vehicle sales. Passenger car sales, however, fell by 14%, reflecting a shift towards SUVs and other vehicles with higher road clearance.

Data from industry associations reveal that 5,311 electrified vehicles were sold year-to-date, including hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs). Toyota reported a 12% increase in sales for the first quarter, followed by Mitsubishi Motors, Nissan, Suzuki, and Ford.

The Philippine government plans to introduce new incentives under the “Revitalizing the Automotive Industry for Competitiveness Enhancement” (RACE) programme to boost local vehicle manufacturing. The goal is to encourage investment and support local producers in the automotive industry to drive growth and competitiveness.

Read more: Philippines vehicle sales rose 8% in March