New, updated products to drive 2024 PH vehicle sales boom

MANILA: In starting 2024, everyone looks forward to thriving days ahead — be it in the form of starker presence or a stronger comeback. New Year, after all, is all about a refreshing start.

Like the rest of us, members of the Philippine automotive industry are directing their energies to have a prosperous 2024 too. But what are their expectations for the year? Here’s what various executives of local automotive distributors told Zigwheels Philippines.

Chery Auto Philippines Managing Director Froilan Dytianquin and Hyundai Motor Philippines (HMPH) General Manager for Marketing Mark Parulan both expressed their firm beliefs that for 2024, customer demand for multi-purpose vehicles (MPV) and compact sport utility vehicles (SUV) would continue to grow.

According to Dytianquin, models under the aforementioned categories — particularly the subcompact and compact ones — enjoyed the much attention from majority of their clients last year and will likely continue within the year.

“Buyers are now shifting to these vehicles given the narrow price gap between the passenger cars, which becomes negligible when you finance them. SUVs and MPVs are also better options in consideration of space, comfort, and higher ground clearance they offer that matches our roads,” explained.

Chery’s lineup in the country is made up of the Tiggo models namely the 2 Pro, and 5X Pro, as well as the 7 Pro Hybrid, 8 Pro, and the 8 Pro Plug-in Hybrid.

For his part, Parulan said the continuous strong demand would continue in 2024.

“We see a continuous strong demand for the MPV segment and compact SUV. We hope that it will be all positive but of course there are many uncontrollable variables that may interrupt our forecast,” Parulan said. 

He also expressed optimism that next year will have better results as the company has introduced new products that are “aligned with the demand of the market.” “We aim to consistently supply the various mobility requirements of our customers while complementing it with excellent ownership experience,” he noted.

Hyundai’s local roster is currently made up of the Custin, Creta, Stargazer and Stargazer X. Joining them are the Palisade, Tucson, Santa Fe, Staria, as well as the electric vehicles Ioniq 5 and 6.

Recently, HMPH President Dongwook Lee announced that more models will arrive in the Philippine market by next year — spearheaded by the arrival of the sixth-generation Santa Fe by the first quarter of the year. 

Meanwhile, Toyota Motor Philippines (TMP) and Mitsubishi Motors Philippines Corporation (MMPC) —the two leading local automotive distributors in the country — could also benefit from the said market outlook.

Among TMP’s best-sellers is the Toyota Raize. Joining the model are the known sales drivers namely the Vios, Hilux, Innova, and Hiace.

According to TMP Vice President for Marketing Service Elvin Luciano, its diverse range is projected to continue which will be “driven by demand by businesses/fleet accounts and new car owners.”

On the other hand, MMPC First Vice President for Sales and Marketing Jack Ramirez Jr. said that while the Xpander as well as the locally -manufactured Mirage G4 and L300 remained to be the top-selling Mitsubishi vehicles in 2023, said that the firm is expecting to have some changes for this year with the introduction of new models.

“Definitely, we are looking at the all-new Triton and all-new Xforce to be our key models for 2024,” Ramirez said. 

Ford Philippines Managing Director Michael Allen Breen attributed its success in 2023 to the launch of the next-generation Territory and Ranger Raptor, popularity of its existing lineup and its consumer-centric approach.

“We are proud to have achieved a lot of milestones in 2023 as our products, services, and experiences resonated with customers and enthusiasts. The sustained popularity of our next-gen vehicles, with key launch updates for the next-gen Territory and Raptor, has solidified our success and impact to various customer segments throughout the year.”

Per Breen, customer experience was further improved as they were given the option to reserve a unit online as well as gave them access to their connected vehicle through FordPass app. “It was really all about anticipating and giving what the customers need, and being able to adapt with changing customer behaviors, needs, and lifestyles,” he claimed.

Ford vehicle ownership in the country was also strengthened as the brand also introduced initiatives such as Express Service, Pickup and Delivery, Online Service Booking, and Service Price Calculator.

“For 2024, we will remain committed to improve the experience of our customers from vehicle reservation, purchase to ownership, and nurture them as advocates and ambassadors of our brand,” Breen assured.

Relatedly, he also attributed the projected 2024 sales boom to stronger economy, increased consumer spending, and improved supply chain, followed by anticipated vehicle launches and arrival of new players.

Further, incoming Omoda and Jaecoo Philippines Brand Manager John Ezekiel Asuncion said that the entry of new brands is expected catch the attention of the younger market — especially those that are youthful trendy, and tech-loaded. This, he added, will “inevitably create a new audience of car buyers.”

“Leveling of product options for the customers. Since the Chinese brands have proven their capability to keep up with more established Japanese, European and American brands - everyone is now compelled to deliver even better product offerings to the customer - making the Filipino car buyer as the real winner,” Asuncion explained.

Based on the distributor’s last announcement, the Omoda 5 and the Jaecoo 7 shall be officially revealed to the local market come the early part of 2024.

Photos from Ruben Manahan IV, Hyundai Motor Philippines, Elvin Luciano's Instagram account, Ford Philippines, Omoda and Jaecoo Philippines

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