Last year, the local automotive industry was able to significantly recover from the effects of the pandemic, tallying a total of 352,596 vehicles sold at the turn of 2023. This year, however, proved to be an even bigger one for carmakers here in our market.
The latest report from the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) is in: A total of 390,654 units have been sold here as of November 2023. That’s already more than the entirety of 2022.
OTHER STORIES YOU MIGHT HAVE MISSED:
Review: 2024 Toyota Yaris Cross 1.5 V CVT
Car-free Sundays on Ayala Avenue will be extended until 2024
The total sales reflect a 23.9% year-on-year growth from the same period in 2022. Month-on-month, however, sales slowed down ever so slightly, but the industry still tallied a decent total of 37,583 unit sales.
According to CAMPI president Atty. Rommel Gutierrez, the industry has already achieved 92% of the 2023 total estimated sales with a whole month to go. If performance is sustained, it just might exceed the 423,000-unit total forecast for the year.
Of course, Toyota Motor Philippines (TMP) remains at the top of the table in terms of market share with 46.2%. Mitsubishi Motors Philippines (MMPC) is in second with 18.4%, and Ford Philippines in third with 7.3%. Rounding off the top five are Nissan Philippines (NPI) with 6.3% and Suzuki Philipines (SPH) with 4.3%.
