Vehicle sales dropped 11.3 percent in April from a year ago, as the industry continued to feel the impact of higher excise taxes.
Data from the Chamber of Automotive Manufacturing of the Philippines Inc. and the Truck Manufacturers Association showed their members sold a total of 25,583 units in April, down from 29,038 units delivered in the same month in 2017.
Both groups reported a decline in sales since January, following the implementation of the Tax Reform for Acceleration and Inclusion law. Month-on-month sales also fell from 28,216 units in March.
Sales in the first four months dropped 9.3 percent to 111,620 units from 123,064 units purchased a year earlier.
The two industry groups said that while sales of passenger cars slight improved by 0.5 percent to 9,910 units from 9,862 units in April 2017, demand for commercial vehicles sank 18.3 percent to 15,673 units from 19,176 units a year ago.
Among commercial vehicles, Asian utility vehicles suffered the biggest setback of 41.5 percent to 3,439 units from 5,878 units, followed by a 9.7-percent decline in demand for light commercial vehicle sales to 11,045 units from 12,237 units.
Data showed sales of passenger cars weakened in the first four monthsn declined 7.2 percent to 38,817 units from 41,813 units a year, earlier while purchases of commercial vehicles decreased 10.4 percent to 72,803 units from 81,251 units.
Demand for AUVs posted a 24.2-percent decline in the first four months to 18,612 units from 24,550 units, while orders for commercial vehicles fell 3.7 percent to 49,974 units from 51,873 units.
Toyota Motor Philippines Corp. remained the top seller in April, followed by Mitsubishi Motors Philippines Corp., Ford Motor Company Philippines Inc., Honda Cars Philippines Inc.and Nissan Philippines Inc.