THE automotive industry is projecting a higher share of electric and hybrid vehicles (EHVs) in the coming years although a double-digit growth rate is still deemed unlikely, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) said.
Latest Campi data show that EHVs accounted for approximately 4 percent of total vehicle sales as of July this year, said Campi President Rommel Gutierrez.
While the current figure is modest, he anticipates increased share by the year-end but is not projecting growth to go beyond 10 percent given the increasing dominance of internal combustion engine (ICE) vehicles.
“(Growth) can’t reach 10 percent because [sales growth] of ICE is really going up. … But volume-wise, it’s [EHVs] really picking up,” Gutierrez told reporters on the sidelines of an event organized by Campi.
He also highlighted recent government policies promoting increased demand for electric vehicles (EVs). Executive Order 12, which expanded tariff exemptions to include hybrid vehicles in addition to pure electric ones, has been a key factor.
This policy change, according to Gutierrez, could encourage more automakers to introduce hybrid models alongside pure EVs.
“Even other brands are really bringing in [hybrid models] because they see the potential led by Toyota. The demand is really picking up. Other car brands are [also] bringing in hybrids because they saw [the potential].”
Campi earlier said it was optimistic about reaching its target of 468,300 car sales this year, even forecasting hitting a historical high of 500,000 units.
This positive outlook was driven by the 10.1-percent increase in sales in the first half of 2024, with Gutierrez expressing the hope that such growth would continue in the second half as a basis for an even better projection next year.
Latest data from Campi showed that automobile sales from January to July hit 265,610 units, higher than last year’s 239,501 units.
In the seven months to July, commercial vehicles continued to drive sales with a tally of 194,812 units, 8.7 percent higher than the 179,144 vehicles posted a year earlier.
Sales of passenger cars reached 70,798 units, a 17.3-percent gain from the 60,357 cars sold in the same period last year.
Looking ahead to the upcoming 9th Philippine International Motor Show, Gutierrez noted that while hybrids and battery electric EVs will be featured at the motor show, ICE vehicles will still make up the majority of new models that will be showcased.
The motor show will be held from Oct. 24 to 27, 2024 at the World Trade Center in Pasay City.
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