A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed the industry ending July 2024 with vehicle sales of 265,610 units, a 10.9% increase from 239,501 units during the same period in 2023.
Sales also increased month-on-month at 0.6%. According to CAMPI President Rommel Gutierrez, “New product launches, improved product offerings, good sales momentum, as well as supply availability helped neutralize the impact of Typhoon Carina, especially towards the latter part of July.”
Commercial vehicles (CVs) still drive the industry performance at 194,812 units accounting for 73% of total sales. Meanwhile, passenger cars registered sales of 70,798 units equivalent to 27% share of total sales.
Toyota Motor Philippines Corporation remains the dominant market player with 46.21% share, followed by Mitsubishi Motors Philippines Corporation with 19.05%, Ford Group Philippines at 6.33%, Nissan Philippines, Inc. with 5.96%, and Suzuki Philippines, Inc. with 4.33% share.
