Philippine auto sales slump in April as oil prices surge - BusinessWorld Online

Car enthusiasts test-drive various vehicle brands at the Mall of Asia Concert Grounds in Pasay City, May 7, 2026.— PHILIPPINE STAR/RYAN BALDEMOR By Beatriz Marie D.

Cruz, Senior Reporter PHILIPPINE CAR SALES declined by 19% in April as rising oil prices linked to the Middle East war continue to dampen consumer demand for gas-powered vehicles, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc.(CAMPI) and the Truck Manufacturers Association (TMA).

Electric vehicle (EV) sales emerged as a bright spot, nearly quadrupling in April amid growing demand for energy-efficient alternatives.CAMPI-TMA data released on Sunday showed that vehicle sales fell by 18.9% to 27,225 units in April from the 33,580 units sold in the same month a year ago.

This was the steepest drop in total car sales since the 11.5% decline recorded in August 2021. On a monthly basis, total vehicle sales dropped by 24.6% from 36,104 units sold in March.Including other industry data, CAMPI said total vehicle sales fell by an annual 8% to 32,400 units in April.

“While the market has not fully recovered from last year’s second semester slowdown, this was further affected by the oil crisis with customers carefully considering their car purchase,” CAMPI President Jose Maria M.Atienza said in a statement.

Passenger car sales, which made up 20.49% of total sales, fell by 14.2% to 5,578 units in April from 6,498 units sold in the same month last year.It likewise dropped by 19.66% from 6,943 units sold in March.

Commercial vehicle sales, which accounted for 79.51% of industry sales, declined by 20.1% to 21,647 units in April from 27,082 units sold in the same month last year.Month on month, sales fell by 25.8% from the 29,161 units sold in March.

Sales of light commercial vehicles slumped by 16.3% to 16,885 units in April from the 20,165 units sold last year, while Asian utility vehicle sales dropped by 32% to...