Vehicle sales flat in October despite rising EV demand

VEHICLE SALES hit just over 40,000 in October, as rising demand for electric vehicles (EVs) failed to offset the decline in passenger car sales, an industry report showed.

- By Justine Irish D. Tabile Reporter

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed new vehicle sales inched up by 0.03% or 11 units to 40,014 in October from 40,003 units in the same month a year ago.

Month on month, vehicle sales went up by 5.2% from 38,029 units sold in September.

Passenger car sales declined by 18.8% to 8,155 units in October from 10,044 units sold in the same month in 2024. Month on month, passenger car sales edged up by 2.6%.

Meanwhile, sales of commercial vehicles, which accounted for 79.62% of October sales, rose by 6.3% to 31,859 units from 29,959 units a year ago.

Month on month, commercial vehicle sales increased by 5.9%.

Under the commercial vehicle segment, light commercial vehicle sales grew by 3% to 22,471 units, while Asian utility vehicles (AUV) rose by 17.2% to 8,309. On a monthly basis, sales of light commercial vehicles and AUVs climbed by 6.5% and 4.6%, respectively.

Sales of medium-duty trucks and buses declined by an annual 6.4% to 352 in October, while lightand heavy-duty vehicles grew by 6.4% and 10%, respectively, to 661 and 66 units.

Compared with September, light-duty truck sales increased by 12.2%, while mediumand heavy-duty truck sales fell by 5.1% and 4.3%, respectively.