The Motorcycle Development Program Participants Association expressed optimism it would surpass the 1.5 million unit sales in 2022 by 6.6 percent to 1.6 million units in 2023.
MDPPA president Norminio Mojica said the sales performance in the first semester could potentially mirror that of the second half.
“Drawing from historical trends, the months of September, October and November have consistently exhibited heightened sales volumes, whereas the months of August and December have maintained an average profile in terms of monthly sales,” he said in a statement.
The group—composed of major industry players Honda, Kawasaki, Suzuki and Yamaha—reported combined sales of 932,220 units from January to July, up by 4.6 percent from 890,720 units in the same period in 2022.
MDPPA said its self-imposed growth target is prone to developments on the global scale and local economic factors. Elements like rising prices and the lingering impacts of the pandemic such as supply chain issues and combination of in-person and remote work setups contributed to slower growth, the group said.
MDPPA is the country’s biggest group of motorcycle manufacturers in terms of volume.
The Philippines is among the largest markets of motorcycles in Southeast Asia.