Car Sales Drop 10% in January — But Toyota Still Dominates and EV Sales Are Quietly Booming
Vehicle sales in the Philippines dipped 10.2% year-on-year in January 2026, with only 35,035 units sold compared to 37,504 in January 2025, according to a joint report by CAMPI and the Truck Manufacturers Association. The decline follows December 2025's record-breaking performance — the highest December sales since 2017 — making the seasonal dropoff expected.
Despite the January slump, CAMPI President Jose Ma. 'Jing' Atienza remains confident about hitting the industry's goal of 500,000 units sold this year. 'The Philippine auto market growth trajectory of recent years consistently pointed toward breaking the 500,000 sales level, but last year's second-half slowdown temporarily disrupted the trend,' he said.
One bright spot: electric and electrified vehicle sales are surging. CAMPI and TMA members sold 2,610 xEVs in January 2026 — a significant jump from just 1,600 units in the same month last year. EVs now represent 7.75% of total CAMPI-TMA vehicle sales, up from around 4% a year ago.
Toyota Motor Philippines continues to dominate with a commanding 48.51% market share, followed by Mitsubishi at 20.78%, Suzuki at 4.88%, Nissan at 4.72%, and Ford at 3.77%. Rounding out the top 10 are Honda, Isuzu, MG (SAIC Motors), Hyundai, and Kia.
Atienza expects new model launches, aggressive marketing campaigns, and growing EV adoption to push the market back on track in 2026. The real test will come in Q2 when the traditional buying season picks up — but the EV momentum is a story worth watching closely.
Source: BusinessWorld
