PH automotive sales rise 24% end-november
The Philippine automotive industry has recorded a 23.9 percent rise in overall sales covering January to November this year, contributed mostly by purchases of Asian utility vehicles and passenger cars.
According to the joint sales report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. (TMA) released on Dec. 19, industry sales were logged at 390,654 units in the 11-month period of 2023, compared to 315,337 units in the same period last year.
Overall sales for the commercial vehicles segment, which has the largest overall market share at 74.49 percent, saw a 22.2 percent rise to 290,989 units this year. 238,054 units were sold in 2022.
Sales of Asian utility vehicles (AUV), a category under the commercial vehicle segment, saw the most of sales with 30.7 percent increase to 54,634 units this year from 41,812 units in 2022. It has a market share of 18.78 percent.
This was followed by the 29 percent jump in sales of passenger cars to 99,665 units in 2023 from 77,283 units last year. It is 25.51 percent of the overall market share.
In terms of players, Toyota Motor Philippines Corp. continued to lead the pack with total year to date sales of 180,480 units, comprising 46.20 percent of the market share this year. It’s current sales increased by 15 percent from 156,874 units in 2022.
Toyota is followed by Mitsubishi Motors Philippines Corp. with 71,833 units; Ford Motor Company Phils. Inc. with 28,586 units; Nissan Philippines, Inc. with 24,743 units; and Suzuki Phils., Inc. with 16,676 units.
Majority of Toyota Motor’s sales came from passenger cars, commercial vehicles, AUVS, and light commercial vehicles (LCVS).
Meanwhile, light-duty, mediumduty, and heavy-duty trucks and buses were purchased mostly from Isuzu Philippines Corp.
CAMPI President Rommel Gutierrez expressed confidence the automotive industry will definitely breach the pre-pandemic sales this year. “We already achieved 92 percent of our 2023 forecast in November; we may even exceed our sales forecast of 423,000 units if sales performance in the last three months is sustained.”