Despite unflattering sales performance in November, year-to-date motor vehicle sales in the Philippines managed an 8.8% increase reaching to 425,208 units sold compared to 390,654 units in the same period last year, according to official industry data.
The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported that sales in November alone posted flat at 2.2% increase to 40,898 units only from 40,003 units the previous month.
Sales of passenger cars went down by 2.07% with only 9,836 units sold in November from 10,044 in October. Commercial vehicle sales also posted a mere 3.7% increase to 31,062 units from 29,959 units sold in October.
Notably, sales of medium-duty trucks and buses (Category IV) plunged by 15.6% to 318 units only from 377 the previous month. This truck category’s performance was also 4.8 % lower compared to the 334 units sold in November 2023.
Sales of heavy-duty trucks and buses (Category V) registered a steep 33.5% decline in the January-November period with sales of 638 units only as against 960 units sold in the same 11 months of 2023.
Toyota Motor Philippines Corporation remains the dominant market player with 46.51% share, followed by Mitsubishi Motors Philippines Corporation with 19.14%, Ford Group Philippines at 6.06%, Nissan Philippines, Inc. with 5.77%, and Suzuki Philippines, Inc. with 4.35% share.
