The local auto industry doesn’t appear to show any signs of slowing down after having recovered from the COVID-19 pandemic in 2022.
According to data provided by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association (TMA), car sales are in a good place. Local brands were able to move a total of 29,499 units in January—an impressive 42.1% improvement compared to the same period in 2022.
Not surprisingly, Toyota was the top-selling car brand in the country to kick off the new year. The company was able to sell 13,428 units last month, which is good for 45.52% of the local market share.
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Mitsubishi finds itself in second with 5,030 units sold, while Ford managed to land in third with 2,107 units sold. Check out the 10 best-selling brands in the Philippines so far:
January 2023 PH car sales
- Toyota - 13,428
- Mitsubishi - 5,030
- Ford - 2,107
- Nissan - 1,878
- Honda - 1,639
- Suzuki - 1,476
- Isuzu - 1,275
- Hyundai - 642
- Geely - 600
- Kia - 426
“The auto industry is optimistic of its continued expansion from the demand-side standpoint driven by the growing domestic consumer market. On the other hand, the supply-side challenges are also an important factor that the industry is mindful of as this may hamper the industry growth,” CAMPI president Rommel Gutierrez said in a statement.
Do you think the local auto industry will be able to sustain this sales performance for the rest of 2023? Let us know in the comments section.
