Auto sales increase at 1.2% MOM
November 21, 2024
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed the industry ending October 2024 with vehicle sales of 384,310 units, an 8.9% increase from 352,971 units during the same period in 2023.
Sales also increased month-on-month at 1.2%. According to CAMPI President Rommel Gutierrez, “the increase can be attributed to good sales and good stock availability, neutralizing the effect of the typhoon Kristine on the operations of dealers nationwide last month.”
Commercial vehicles (CVs) still drive the industry performance at 283,501 units accounting for 74% of total sales. Meanwhile, passenger cars registered sales of 100,809 units equivalent to 26% share of total sales.
Toyota Motor Philippines Corporation remains the dominant market player with 46.43% share, followed by Mitsubishi Motors Philippines Corporation with 19.09%, Ford Group Philippines at 6.12%, Nissan Philippines, Inc. with 5.80%, and Suzuki Philippines, Inc. with 4.36% share.
