The Philippine automotive industry started 2024 strong, posting significant year-on-year growth in January. As we end the first quarter of the year, the industry closes it off on the same note.
According to the latest report by the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA), 34,474 vehicles were sold in March. While that showed a slight month-on-month dip, that brings the total sales for the year to 109,606—that’s good for a 12.7% increase from the same period last year.
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Of the total sales, commercial vehicles accounted for 81,395 units—60,302 of which were light commercial vehicles. CAMPI also reports that the MPV/AUV sub-segment showed a 27% year-on-year growth. Passenger cars, meanwhile, accounted for 26% of the total sales with 28,211 units sold.
Of course, it’s still Toyota Motor Philippines ahead of the pack with 49,667 vehicles sold and a 45.31% market share after the first three months. Mitsubishi Motors Philippines—which had a strong outing in 2023—comes in second with 20,867 units sold and a 19.04% market share. Nissan Philippines finished Q1 with 7,909 units sold, good for a 7.22% market share, followed by Ford with 7,531 units sold equivalent to a 6.87% market share. Coming in fifth is Suzuki Philippines with a 4.01% market share.
“YTD sales performance was driven by sustained demand for new vehicles, supported by overall supply improvement,” said CAMPI president Atty. Rommel Gutierrez. “Our Q1 performance keeps us on track to achieve our 2024 target.”
For a full rundown on the numbers and rankings, you can check out the table below.
Ranking
Company
Brand
Total vehicle sales
1
Toyota Motor Philippines
Toyota
49,667
2
Mitsubishi Motors Philippines
Mitsubishi
20,867
3
Nissan Philippines
Nissan
7,909
4
Ford Motor Company Philippines
Ford
7,531
5
Suzuki Philippines
Suzuki
4,395
6
Honda Cars Philippines
Honda
3,841
7
Isuzu Philippines
Isuzu
3,811
8
Hyundai Motor Philippines
Hyundai
2,565
9
SAIC Motors Philippines
MG
1,185
10
Sojitz G Auto Philippines
Geely
1,132
11
KP Motors
Kia
1,083
12
United Asia Automotive Group
Chery
789
13
BA Motors Philippines
GAC
774
14
Foton Motor Philippines
Foton
732
15
Bermaz Auto Philippines
Mazda
633
16
Hino Motors Philippines
Hino
426
17
Sojitz Fuso Philippines
Fuso
275
18
Jetour Auto Philippines
Jetour
267
19
SMC Asia Car Distributors
BMW
233
20
Global Autodistribution
JMC
224
21
IC Automotive
Changan
174
22
IC Star Automotive
Mercedes-Benz
151
23
Coventry Motors - IC Land
Jaguar & Land Rover
75
24
Automobile Central Enterprise
Volkswagen
45
26
Columbian Autocar
Mahindra
43
27
BA Motors Philippines
Peugeot
34
28
MAN Automotive Concessionaires
VW Trucks & Buses
5
29
Columbian Motors
IVECO Bus and Trucks
2
30
Berjaya Auto Asia
Kaicene
0
31
MAN Automotive Concessionaires
MAN
0
31
Pilipinas TAJ Autogroup
Tata
0
31
Ssangyong Berjaya Motor Philippines
SsangYong
0
N.R
Others (multiple brands)
72
