New vehicle sales in the Philippines fell 16% to 33,532 units in May 2026 from 39,775 units a year earlier, marking the fifth straight month of decline. Economic growth slowed to 2.8% in the first quarter, and the central bank raised its benchmark rate by 50 basis points to 4.75% since April to combat inflation driven by rising fuel prices. In the first five months, sales dropped over 12% to 167,324 units, with passenger cars down 14% and commercial vehicles down 12%, while electrified vehicle sales surged 133% to 24,356 units. Toyota remained the market leader with 83,282 units, a 9% decline, followed by Mitsubishi, Suzuki, Ford, and Nissan, all posting double-digit drops. GlobalData expects the light vehicle market to fall over 3% to 473,000 units in 2026 before rebounding 9% in 2027.
Nissan Motor Co., Ltd.
Toyota Motor Corp.
Suzuki Motor Corp.
Ford Motor Company
Mitsui & Co.,Ltd
Mitsubishi Corporation
Mitsubishi Electric Corp.
Mitsubishi UFJ Financial Group, Inc.