Growth of motor vehicle sales further slowed in the first seven months of the year following a flat performance in July from the previous month.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc.
(Campi) and the Truck Manufacturers Association showed industry sales ending July reached 265,610 units, a 10.9-percent increase from 239,501 units in the same period in 2023. That follows the 11.8 percent growth registered in the first semester.
July sales inched up 0.6 percent to 39,331 units from 39,088 in June. From July 2023, last month’s sales were higher by 6.1 percent.
The flat performance was attributed to Typhoon Carina which lessened the selling days for the month.
But Rommel Gutierrez, Campi president, said “new product launches, improved product offerings, good sales momentum, as well as supply availability helped neutralize the impact of Typhoon Carina, especially towards the latter part of July.”
Commercial vehicles (CVs) continued to drive industry, selling 194,812 units in the first seven months of the year, accounting for 73 percent of total sales and growing by 8.7 percent fro 179,144 units in the same period in 2023.
Passenger cars registered sales of 70,798 units equivalent to 27 percent share of total sales and an increase of 17.3 percent from last year’s 60,357 units.
Toyota Motor Philippines Corp. remains the dominant market player with 46.21 percent share and selling 122,730 units; share, followed by Mitsubishi Motors Philippines Corp. with 19.05 percent and 50,599 units sold.
Ford Group Philippines was at third, with sales of 16,817 units, 6.33 percent share; Nissan Philippines Inc. at fourth with 15,819 units and 5.96 percent share.
Rounding up the top five is Suzuki Philippines Inc. which sold 11,499 units, 4.33 percent share.
