Vehicle sales in the first 11 months of 2024 grew 8.8 percent to 425,208 from 390,6544 units a year ago.
The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) said in a joint statement that passenger car sales increased 11 percent to 110,645 from 99,665 units last year, contributing 26.02 percent to overall sales
Meanwhile, commercial vehicles, which dominated with a 73.98-percent market share, recorded 314,563 units sold, an 8.1 percent increase over 290,989 units a year ago.
Automotive sales in November reached 40,898 units, up by 2.2 percent month-on-month (MoM) and 8.5 percent increase, year-on-year.
CAMPI president Rommel Gutierrez emphasized the industry’s consistent growth, despite a 2.07-percent month-on-month dip in passenger car sales in November, with 9,836 units sold from 10,044 units in the same month in 2023.
Passenger car sales still rose 2.8 percent year-on-year, while commercial vehicles sustained momentum, selling 31,062 units in November, up by 3.7 percent from 29,959 units in October and 10.5 percent from 28,114 units a year ago.
The Asian utility vehicle (AUV) segment showed remarkable growth, with 11-month sales of 74,989 units, a 37.3-percent surge from 2023.
November sales for AUVs rose 11.3 percent month-on-month and impressive 40.7 percent year-on-year, reaching 7,890 units.
Light commercial vehicles (LCVs) also performed well, achieving 11-month sales of 229,313 units, a 1.4 percent uptick from 2023’s 226,046.
November LCV sales hit 22,115 units, up 1.4 percent month-on-month and 3.2 percent year-on-year.
Toyota Motor Philippines Corp. dominated the market with a 46.51-percent share, followed by Mitsubishi Motors Philippines Corp. with 19.14 percent, Ford Group Philippines with 6.06 percent, Nissan Philippines Inc. with 5.77 percent and Suzuki Philippines, Inc. with 4.35 percent.
