Vehicle sales recovered in May, growing 7.9 percent month-on-month to 40,271 units from 37,314 units in April.
This pushed five-month sales by 12.7 percent to 187,191 units from 166,104 units in the same period in 2023, a joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association showed.
“Improvements in the supply and good consumer demand, coupled with increase in automotive financial scheme and extensive sales activities, helped boosted sales on month-on-month basis,” said Rommel Gutierrez, Campi president.
For the first months of the year, commercial vehicles continued to drive industry performance at 137,944 units, accounting for 74 percent of total sales and up 11 percent from 124,242 units sold last year.
Passenger cars registered sales of 49,247 units equivalent to 26 percent share of total sales and an increase of 17.6 percent from 41,862 units in 2023.
Toyota Motor Philippines Corp. continued to dominate the industry with 46.08 percent share of the market at 86257 units sold. Mitsubishi Motors Philippines Corp. followed with 18.78 percent share for 35, 146 units sold; Ford Group Philippines at 6.54 percent with 12,241 units; Nissan Philippines, Inc. with 6.17 percent with 11,559 units and Suzuki Philippines Inc. with 4.26% share with 7,975 units.
