CAMPI-TMA Apr. 2024 YTD sales up by 15%

MANILA: The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) posted strong sales figures for the first four months of 2024 after they sold 146,920 units for the said period.

Based on their joint report, the said figure reflected a 14.8-percent increase from the 127,927 vehicles retailed during the same period in 2023.

In April 2024 alone, the two organizations collectively delivered 37,314 vehicles to their respective buyers. The performance reflected a slight slowdown of 0.4 percent compared to March 2024’s 37,474-unit sales performance. However, April 2024’s figures showed a 21.8-percent spike versus April last year’s 30,643-unit output.

The models under the commercial vehicle (CV) category continue to provide the biggest contribution as they cooperatively sold 108,667 examples (73.96 percent market share). In comparison to the same timeline last year, the group showed 13.4-percent growth.

Meanwhile, the passenger car segment (which holds the remaining 26.05-percent of the market), had a 38,280-vehicle retail performance. The said numbers show a 19.4-percent escalation in terms of sales when compared to the January-April 2023 data.

CAMPI President Rommel Gutierrez attributed the two group’s total output to the “positive consumer and business confidence plus stability in automotive finance boosted sales.”

Continuing to hold the lion’s share in the local automotive arena is Toyota Motor Philippines with 67,580 units sold (46 percent share). Mitsubishi Motors Philippines Corporation is in second place with 27, 828 vehicles turned over to clients (18.94 percent share).

Ford Group Philippines and Nissan Philippines showed a stiff competition for third place as the Blue Oval marque sold 9,688 vehicles (6.59 percent) while the Japanese automaker had 9,375 examples sold.

Meanwhile, Suzuki Philippines is at fifth spot with a 4.16-market share after selling 6,117 units.

To note, CAMPI-TMA is eyeing to sell 468,300 units by yearend.

Photos from Ruben Manahan IV

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CAMPI-TMA January 2024 sales up by almost 16%

CAMPI-TMA beats 2023 sales forecast