CAMPI-TMA closes Q3 2024 with 9% sales increase

MANILA: The Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) closed the third quarter of 2024 with 344,307 units sold.

Based on the joint report, the two groups experienced a 9.4-percent rise in the first nine months of the year compared to the 314,843 vehicles yielded for the same period last year.

For the previous month alone, CAMPI and TMA was able to roll out 39,542 examples to clients — reflecting a 2.4-percent increase from the 38,628 units turned over to customers in September 2023, and a one-percent rise over the 39,155 vehicles handed over to buyers last August.

CAMPI President Rommel Gutierrez attributed the increase to “new stock arrivals and improved promotions from the brands.”

No new model releases were made last September — which could be attributed to the anticipated preparation of brands’ participating in the 9th Philippine International Motor Show set next week.

Models under the commercial vehicle (CV) segment continue to lead the local automotive industry sales after they collectively retailed 253,542 units in January-September 2024 — which accounted for 73.64-percent share of the market. It is also eight percent more compared to the 234,834 examples sold for the same timeline in 2023.

On the other hand, the passenger car category registered 90,765 units sold for the full three quarters of the year — which is equivalent to the remaining 26.36 percent share of the two organizations’ total sales volume.

10 best-selling brands under CAMPI-TMA  

Toyota Motor Philippines maintained its position as the leading automotive distributor in the country by cornering 46.21-percent share of the market with 159,088 units sold.

In second place is Mitsubishi Motors Philippines Corporation with 66,028 examples delivered to buyers (19.18-percent market share) trailed by Ford Group Philippines at third spot after registering 21,438 retailed units (6.23 percent).

Nissan Philippines placed fourth with 20,322 vehicles handed over to clients (5.90 percent share), and Suzuki Philippines took the fifth spot with 14,990 turned over to customers (4.35 percent share).

Getting sixth, seventh, and eighth places respectively are Isuzu Philippines Corporation (12,663 units sold, 3.68 percent overall market share), Honda Cars Philippines (11,512 vehicles retailed, 3.34 percent), and Hyundai Motor Philippines (8,690 examples, 2.52-percent).

Securing the ninth place for the January-September 2024 timeline is SAIC Motors Philippines (distributor of MG vehicles locally) after selling 6,447 units.

Lastly, KP Motors Corporation (which is in charge of Kia distributorship in the Philippines) sold 4,381 vehicles for the first nine months of 2024.

Also read:

CAMPI-TMA sells 265k units in Jan.-Jul. 2024

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CAMPI-TMA YTD sales for May 2024 up by 13%