CAMPI-TMA beats 2023 sales forecast

MANILA: Overall sales of the Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and Truck Manufacturers Association (TMA) for the full 12 months of 2023 has breached the 423,000-unit target.

Based on their joint report, the two groups have collectively retailed 429,807 units — which reflects a 21.9-percent increase compared to the revised goal announced in August 2023.

For December 2023 alone, CAMPI-TMA turned over 39,153 units to buyers. The retail performance is 3.9-percent higher than the 37,683 vehicles in November 2023 and is five percent more in contrast to 35,271 vehicles sold for the same month the previous year.

 

For the whole year, sales of commercial vehicles for the whole year reached 320,543 units — cornering 76-percent of the overall retail. The aforementioned number is 20.2-percent more compared to 266,699 examples rolled out in the same period last year.

On the other hand, passenger cars rolled out 109,264 examples to clients last year — holding the remaining 24-percent of the total vehicle sales in the country and reflecting a 27.2-percent increase versus the 85,897 units from the previous year.

“2023 was a very strong year for the industry and we are very excited about 2024. Positive economic outlook, new model introductions and the electrification trend are expected to contribute to a record-breaking sales this year”, CAMPI President Rommel Gutierrez said.

Toyota Motor Philippines maintained its market leadership in 2023 with 200,031 units sold (46.54-percent market share), followed by Mitsubishi Motors Philippines Corporation with 78,371 units (18.23-percent portion).

Ford Motor Company Philippines is the third best-selling marque with 31,320 units sold (7.3-percent share); Nissan Philippines is at fourth spot by delivering 27,136 vehicles (6.3-percent); and Suzuki Philippines, in fifth place with 18,454 units sold (4.3 percent).

Photos from Ruben Manahan IV

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