Auto sales recover in May with 7.9% MOM increase
June 1, 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
May 2024 with vehicle sales of 187,191 units, a 12.7% increase from 166,104 units during
the same period in 2023.
The auto industry also started to recover on MOM basis with 7.9% increase. According
to CAMPI President Rommel Gutierrez, “Improvements in the supply and good consumer
demand, coupled with increase in automotive financial scheme and extensive sales
activities, helped boosted sales on MOM basis.”
Commercial vehicles (CVs) continue to drive industry performance at 137,944 units
accounting for 74% of total sales. Meanwhile, passenger cars registered sales of 49,247
units equivalent to 26% share of total sales.
Toyota Motor Philippines Corporation continues to dominate the industry with 46.08%
share, followed by Mitsubishi Motors Philippines Corporation with 18.78%, Ford Group
Philippines at 6.54%, Nissan Philippines, Inc. with 6.17%, and Suzuki Philippines, Inc.
with 4.26% share.
