The report from the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association (TMA) for last month is out, and it looks like the automotive industry’s significant growth continues.
Following the 29.5% year-on-year improvement seen back in September, the industry has now posted a 42.4% growth in October with 32,146 vehicles sold. In the same month last year, only 22,581 units were sold.
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To no surprise, Toyota Motor Philippines still leads the way with 140,425 vehicles sold—good enough for a 50.1% market share. Still following in far second is Mitsubishi Motors Philippines at 40,666, then Ford Philippines at 18,645 for the year. Nissan Philippines follows closely in fourth with 17,762 vehicles sold, with Suzuki Philippines coming in at fifth with 16,167.
All in all, CAMPI-TMA has sold 280,300 units in our market year-to-date, which is good for a 30.9% increase from the same period last year.
“The continued double-digit growth recorded anew in October is boosting optimism for the automotive industry, further accelerating full recovery this year from the pandemic disruptions,” CAMPI president Atty. Rommel Gutierrez. “Sustaining this growth trend in the remaining months of the year gives us confidence that the industry will be able to emerge strong, exceeding its forecast speaking from the current business-as-usual standpoint.”
With Philippine vehicle sales continuing to ramp up, we’re looking forward to seeing what these rankings will look like by the end of the year. You reckon we’ll still be seeing changes to that top five come December?
