Auto sales slightly decline at 2.9% MOM
July 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
June 2024 with vehicle sales of 226,279 units, a 11.8% increase from 202,415 units
during the same period in 2023.
However, a slight decline of 2.9% was spotted on MOM basis. “The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast-
moving variants all contributed to this decline,” said CAMPI President Rommel Gutierrez.
Commercial vehicles (CVs) continue to drive industry performance at 166,404 units
accounting for 74% of total sales. Meanwhile, passenger cars registered sales of 59,875
units equivalent to 26% share of total sales.
Toyota Motor Philippines Corporation remains the dominant market player with 46.12%
share, followed by Mitsubishi Motors Philippines Corporation with 18.83%, Ford Group
Philippines at 6.39%, Nissan Philippines, Inc. with 6.16%, and Suzuki Philippines, Inc.
with 4.26% share.
