Automotive sales grew a modest 6.6 in the first quarter this year as significant decline in the passenger car segment tempered growth to 109,606 units from 117,074 units in the same quarter last year, official industry report showed.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) that of total sales, the passenger car segment contributed only 24,332 units in the first three months this year or 13.7 percent down from 28,211 units in the same period last year.
In March alone, the segment sales declined further by 16.6 percent to 8,449 units from 10,127 units of the same month in 2024. Only the passenger car and medium to heavy trucks posted declines, all the rest registered meaningful growth.
The commercial segment, posted a 13.9 percent increase to 92,742 units from 81,395 units in the same period last year for a market share of 79.22 percent.
For the first time, the joint CAMPI-TMA report featured sales of electrified vehicle (xEV), which sales accounted for 5.73 percent of total first quarter performance with hybrid electric vehicles (HEVs) comprising 86 percent of total xEVs.
Overall, Toyota Motor Philippines Corporation remains the dominant market player with 47.50 percent share, followed by Mitsubishi Motors Philippines Corporation with 20.01 percent, Nissan Philippines, Inc. with 5.57 percent, Suzuki Philippines, Inc. with 4.66 percent and Ford Group Philippines at 4.47 percent, share.
