Philippine vehicle sales grew 11. 8 percent to 226,279 units in the first half of 2024 from 202,415 units in the same period in 2023 despite a slight drop in month-on-month (MoM) sales in June.
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said in a joint report sales were stable in the first six months and were on track to the target sales for the whole year.
Sales in June fell 2.9 percent to 39,088 units from 40,271 units in May 2024. “The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast-moving variants all contributed to this decline,” said CAMPI president Rommel Gutierrez.
Data show that the six-month passenger car sales increased 17.8 percent to 59,875 units from 50,848 a year ago, while commercial car sales rose 9.8 percent to 166,404 units from 151,567.
Passenger car sales declined by 3.09 percent to 10,628 units in June from 10,967 units in May but increased 18.3 percent, year-on-year from 8,966 units in June 2023.
Commercial vehicle sales also showed a slight drop of 2.9 percent to 28,460 units from 29,304 in May but grew 4.2 percent from 27,325 units a year earlier.
Total vehicle sales in June showed a positive growth of 7.6 percent to 39,088 units from 36,311 units in the same month in 2023.
Toyota Motor Philippines Corp. remained the dominant market player with 46.12 percent of the total sales. It was followed by Mitsubishi Motors Philippines Corp. with 18.83 percent, Ford Group Philippines with 6.39 percent, Nissan Philippines Inc. with 6.16 percent and Suzuki Philippines Inc. with with 4.26 percent.
