Philippine Auto Sales Drop 8% in February as NEVs Surge 67%

Hit by an economic slowdown, new vehicle sales in the Philippines fell 8% year-over-year in February 2026 to 35,842 units, marking the second consecutive monthly decline. Cumulative sales for January–February totaled 69,538 units, down more than 9% year-on-year, with passenger car sales plunging 17% and commercial vehicle sales dropping 7%. Economic data showed that GDP growth slowed to 3.0% in Q4 2025—the weakest pace since the pandemic—as both household consumption and investment weakened significantly. Despite the overall market slump, new energy vehicles stood out: year-to-date sales of electrified models surged 67% to 5,701 units, driven by a tenfold jump in plug-in hybrid sales and a 77% increase in battery-electric vehicle sales. Among mainstream brands, Toyota, Mitsubishi, and Nissan all reported declining sales. Industry analysts forecast that total vehicle sales in the Philippines will rise by less than 2% in 2026, reaching 496,000 units.