VEHICLE SALES figures continue to trend upward, per the latest joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). Last January, member companies of the two groups posted a consolidated sales total of 29,499 units — reflecting a 42.1% increase versus the 20,765 units recorded in the same month in 2022. Versus December, the market exhibited an expected seasonality dip from 37,259 units sold during that month.
CAMPI President Atty. Rommel Gutierrez said that the figure, coming off a “robust growth performance in 2022, is a good development momentum for the auto industry as we start the year.”
Leading the charge anew is Toyota Motor Philippines Corp. (TMP), with 13,428 units sold in January, helping the company corner 45.52% of the market. In second place is Mitsubishi Motors Philippines Corp. (MMPC), which moved 5,030 vehicles and accounted for 17.05% of total sales for the month. Ford Motor Company Philippines, Inc. sold 2,107 units in January — good for third place and 7.14% share of the market. In fourth is Nissan Philippines, Inc. (NPI) with 1,878 vehicles sold and 6.37% market share. Rounding out the top five is Honda Cars Philippines, Inc. (HCPI), with 1,639 vehicles sold and 5.56% market share.
During the recent media thanksgiving party held by Toyota, TMP President Atsuhiro Okamoto expressed, “We are humbled by the trust of our customers that resulted in a market share of 50% in 2022.” The executive expects 2023 to be “another milestone year” for the company, which is marking its 35th anniversary. “This year, we aim to step up our initiatives in providing mobility for all Filipinos. All indications are pointing to sustained economic growth driven by the increased movement of people and goods. As such, we are cautiously optimistic that the auto market will hit 388,000 units — 11% higher than 2022,” he continued.
Atty. Gutierrez affirmed in a release, “The auto industry is optimistic of its continued expansion from the demand-side standpoint driven by the growing domestic consumer market.” However, he cautioned that “supply-side challenges are also an important factor that the industry is mindful of as this may hamper the industry growth… the auto sales sustained growth or exceeded the last year’s record is not always clear-cut as our overall economic health and activity depends on various economic key indicators.” — Kap Maceda Aguila