Vehicle sales up 3.6% in June, driven by commercial vehicles

New vehicle sales in the Philippines increased by 3.6% in June to reach 40,483 units from 39,088 units a year ago, driven primarily by a surge in commercial vehicle sales despite a sharp decline in passenger car sales.

Passenger car sales dropped by 34.9% to 6,922 units from 10,628 units in the same month last year, while commercial vehicle sales surged by 17.9% to 33,561 units, accounting for 82.9% of total June sales.

CAMPI President Rommel R. Gutierrez noted that ongoing market shifts and evolving buyer preferences present opportunities for innovation and recovery in the passenger car segment.

Industry experts cited high interest rates, fuel costs, and economic uncertainty as factors dampening demand for passenger cars, while there is a growing preference for motorcycles due to their affordability and practicality.

The industry remains focused on enhancing customer experience and introducing updated vehicle lineups to support market recovery across all segments, including the introduction of more electrified vehicles.