ELECTRIC vehicle sales dropped in the first four months of 2024 but an industry group remains optimistic about the rest of the year.
The Electric Vehicles Association of the Philippines (EVAP) said that 1,072 units had been sold as of end-April, lower than the 2,536 recorded in the first quarter of last year.
The comparable four-month figure was not immediately available.
Despite the decline, the EVAP said sales were expected to improve given the upcoming 12th Philippine Electric Vehicle Summit (PEVS), scheduled for October 24 to 26 at the SMX Convention Center in Pasay City.
“The 12th PEVS is designed to further ignite a powerful call to action for a transformative shift in transformation and mobility,” EVAP President Edmund Araga said.
Electric vehicle (EV) sales totaled 10,602 units last year, according to the Chamber of Automotive Manufacturers of the Philippines Inc., while the Land Transportation Office pegged the number at 7,515 units.
Araga told reporters on Tuesday that they had yet to validate the figures.
“This year, sales of EVs are expected to further rise, especially from September to December, which are the peak months for EV sales based on historical data,” the EVAP said.
In line with increasing demand for cleaner transportation alternatives, the Department of Energy said that supporting infrastructure had seen notable growth.
The number of EV charging stations rose to 636 in September from 170 in January. Additionally, battery swapping stations also increased to 349 from four over the same period.
Araga also said that the proposed Electric Vehicle Incentive Strategy Program was progressing with upcoming consultations with the Board of Investments set this month.
“We anticipate approval from the Fiscal Incentive Review Board and submission to the Office of the President before the year ends,” he added.
Still, automotive industry officials do not expect a surge in the share of EVs to overall vehicle sales. Campi President Rommel Gutierrez projected a rise but not to double-digit levels.
Gutierrez said that latest data showed electric and hybrid vehicles accounted for approximately 4 percent of the total vehicle sales as internal combustion engine vehicles continued to dominate.
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