Vehicles sales in the Philippines accelerated by 34.2 percent in November to 34,037 units from 26,456 in the same period last year, two industry groups said Wednesday.
The Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report the passenger car and commercial vehicle segments posted significant increment in sales last month.
“The auto sales performance has been improving, recording double-digit growths for nine successive months. With the continued growing consumer demand for new motor vehicles, the industry is convinced and confident in exceeding its sales forecast of 336,000 this year,” said CAMPI president Rommel Gutierrez.
“The automotive industry underscores the importance of pent-up demand from consumers supported by continued economic recovery, boosting business and consumer confidence. These, alongside the containment of the pandemic, are significant factors towards sustained growth,” he said.
Data showed that passenger car sales went up by 8.8 percent in November to 8,931 from 8,205 units a year earlier, while commercial vehicle sales jumped 43 percent to 26,106 from 18,251 units.
Monthly sales also increased 9 percent from 25,456 units delivered in October, with passenger car sales rising 7.68 percent from 8,205 units and commercial vehicles climbing 9.4 percent from 23,852 units.
Total sales in the first 11 months reached 315,337 units, up by 31 percent from 240,742 vehicles sold in the same period in 2021. Passenger car sales from January to November grew 0.6 percent to 77,283 units from 76,813 units, underscoring the consumers’ growing preference for taller and bigger vehicles.
Commercial vehicle sales jumped 45.3 percent in the 11-month period to 238,054 from 163,829 units a year ago.
Toyota Motor Philippines remained the best-selling brand and accounted for 36.63-percent market share, followed by Mitsubishi Motor Phils. Corp. with 9.14 percent.
Ford Motor Company Philippines Inc. ranked third with 8.95 percent, while Nissan Philippines Inc. and Isuzu Philippine Corp. rounded up the top five brands with 7.04 percent and 4.72 percent, respectively.
