Sale of motor vehicles grew by 0.2 percent or 305,381 units on an annual basis in August, latest market data showed.

Bulk of the sales are accounted for by commercial vehicles at 244,023 units, according to the joint sales report released by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) on Tuesday.

The second and third largest sales were accounted for by light commercial vehicles (182,240) and passenger cars (61,358).

In terms of market players, Toyota Motor Philippines Corporation continued to lead with 47.93 percent share, followed by Mitsubishi Motors Philippines Corporation, 18.96 percent; Nissan Philippines, Inc., 4.96 percent; Ford Group Philippines, 4.89 percent; and Suzuki Philippines, Inc., 4.75 percent.

The same report showed the rising number of electric vehicle (EVs) sales, mostly hybrid models and battery-powered EVs, since they now have a market share of around 6.04 percent.

The same data showed a 7.6 percent month-on-month dip in total vehicle sales, from 38,295 units last July to 36,174 units in August.

“Despite a modest dip in month-on-month figures, the industry remains optimistic, driven by evolving consumer preferences and a growing shift toward sustainable mobility,” the statement read.

“CAMPI and TMA reaffirm their commitment to supporting innovation and advancing the automotive sector’s contribution to national development.”

PNA PHOTO