No slowing down: November car sales up by 24%
December 1, 2023
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) posted total vehicle sales of 390,654 units in November 2023, up by 23.9% from 315,337 units during the same period in 2022.
The automotive industry will definitely breach pre-pandemic sales in 2023. CAMPI president Rommel Gutierrez said “we already achieved 92% 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.” Gutierrez said vehicle sales are being pushed by continued aggressive marketing activities and supply improvement across all brands.
Total sales slightly declined on a MOM basis, but the industry still displayed a relatively strong performance in November at 37,583 units sales. Commercial vehicles continue to drive industry performance at 28,114 units accounting for 75% of total sales, while passenger cars registered sales of 9,569 units.
Toyota Motor Philippines Corporation continues to dominate the automotive market with 46.2% share, followed by Mitsubishi Motors Philippines Corporation with 18.4%, Ford Motor Company Philippines, Inc. with 7.3%, Nissan Philippines, Inc. with 6.3%, and Suzuki Philippines, Inc. with 4.3%.
