CAMPI-TMA H1 2024 sales breach 226K units

MANILA: The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) collectively sold more than 226,000 vehicles during the first half of 2024.

Based on their joint report, the groups’ year-to-date sales performance as of June 2024 was at 226,279 examples — reflecting an 11.8-percent growth compared to the same period last year.

Last month alone, the two associations delivered 39,088 units to customers, which is 7.6-percent higher versus the 36,311-unit retail accomplishment in June 2023. However, the same numbers showed a 2.9-percent slowdown when compared to the 40,271 vehicles turned over to clients in May 2024.

According to CAMPI President Rommel Gutierrez, the slide can be attributed to the “decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast- moving variants.”

Local commercial vehicles were the main sales drivers for the first six months of 2024 — selling 166,404 units and cornering 73.53 percent of the market. The said volume is also nearly 10-percent higher than the 151,567 units sold in the same period last year.

Meanwhile, the passenger car category (while held the remaining 26.46 percent of the overall sales for January-June 2024) had a total of 59,875 examples, which showed a 17.8-percent rise over the 50,848-example retail output for the same timeline in 2023.

 Cornering the lion’s share in the country’s automotive market (cornering 46.12-percent of the overall sales) is Toyota Motor Philippines with 104,350 units sold followed by Mitsubishi Motors Philippines Corporation (18.83-percent share) with 42,599 vehicles handed over to clients.

Taking the third spot is Ford Philippines after retailing 14,460 units in January-June 2014 (representing 6.39 percent share).

Placing fourth and fifth are the local arms of Nissan (13,939 units sold; 6.16 market share) and Suzuki (9,650 units sold; 4.26 percent).

CAMPI-TMA is aiming to sell 468,300 units by the end of the year.

Also read:

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

CAMPI-TMA Q1 2024 sales grow 13%

CAMPI-TMA January 2024 sales up by almost 16%