Key Market Indicators
Filipina vehicle registration is projected to reach approximately 499,000 units by 2028, up from around 436,000 units in 2023. This reflects an annual growth rate of 2.1%. Since 2010, the Filipino market has grown at an average rate of 1.7% per year. In 2023, the Philippines ranked 42nd globally in vehicle registration, with the Netherlands slightly ahead with roughly the same number of units. Canada, China, and Austria held the second, third, and fourth positions, respectively, in the global ranking. Meanwhile, Filipina vehicle production is expected to climb to about 171,000 units by 2028, increasing from approximately 147,000 units in 2023. This represents an annual growth rate of 2.4%. Since 2004, the Filipino vehicle supply has seen an average annual increase of 3.6%.
