Auto sales increase at 1.0% MOM
October 22, 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 September 2024 with vehicle sales of 344,307 units, a 9.4% increase from 314,843 units during the same period in 2023.
New Vehicle Sales
Sales also increased month-on-month at 1.0%. According to CAMPI President Rommel Gutierrez, “the increase can be attributed to new stock arrivals and improved promotions from the brands.”
Commercial vehicles (CVs) continue to drive the industry performance at 253,542 units accounting for 74% of total sales. Meanwhile, passenger cars registered sales of 90,765 units equivalent to 26% share of total sales.
Toyota Motor Philippines Corporation remains the dominant market player with 46.21% share, followed by Mitsubishi Motors Philippines Corporation with 19.18%, Ford Group Philippines at 6.23%, Nissan Philippines, Inc. with 5.90%, and Suzuki Philippines, Inc. with 4.35% share.
9th Philippine International Motor Show
There were no new model releases last September, possibly due to the brands’ preparation for the upcoming Philippine International Motor Show in October where we expect new launches will be made.
As such, we would like to take this opportunity to invite everyone to stay tuned for exciting news and releases related to the 9th PIMS on October 24 to 27, 2024.
