Car sales in PH set to top half a mil by yearend
The Philippine auto industry is forecasting a record-breaking year with car sales expected to exceed half a million units by the end of 2025.
GT Capital Auto & Mobility Holdings Chairman Vince Socco stated at the Auto Parts & Vehicles Expo in Pasay that as of the first half of this year, annualized figures are tracking just about 490,000 units, indicating strong growth.
Socco noted that the Philippines is currently the second-fastest growing automotive market in the region after Vietnam, with new vehicle sales increasing by 1.7% to 190,429 units from January to May.
Despite potential challenges from US tariffs on Philippine exports and zero tariffs on American vehicles imported to the Philippines, Socco believes the impact will be minimal due to existing trade agreements within ASEAN.
Organizers of the Auto Parts and Vehicles Expo 2025 are also optimistic about growth in auto parts export revenue, targeting $1.28 billion this year compared to $1.21 billion last year.
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