CAMPI-TMA January 2024 sales up by almost 16%

MANILA: The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) is off to a strong start as after breaching the 2023 sales target, they closed the opening month of 2024 with a 15.5-percent increase in their year-to-date sales.

Based on their joint report, the groups' sales collectively grew to 34,060 vehicles sold last January from the 29,499 units tallied when they ended the same month in 2023 — which showed a 4,56-unit difference.

It is, however, down by 13 percent compared to December 2023’s 39,153-unit performance.

Commercial vehicles continue to hold the majority of the two groups’ output (75.20-percent market share) by selling 25,614 examples in January 2024. The said figure is 13.3-percent less than the 29,554 units handed over to customers in December 2023 output but is 16.5-percent versus January 2023’s 21,993 examples turned over to clients.

Models under the passenger car category (which had the remaining 24.80-percent share) sold 8,446 units last month — 12 percent less against the 9,599 examples sold  in December 2023 but 12.5-percent more than the 7,506 examples bought by customers in the same month the previous year.

In a statement, CAMPI President Atty. Rommel Gutierrez expressed optimism for 2024 amid inflation risk and the imminent taxation on the double ca pick-up.

“We are starting off 2024 with a positive business and consumer confidence outlook. We see new model introductions and the expansion of electrified vehicle line-up especially in the hybrid electric vehicle segment, and more brands coming into the market,” Gutierrez said.

“These are all indications of a strong and vibrant auto market,” he added.

Toyota Motor Philippines maintains its position as the best-selling automotive brand in the country with its 16,093-unit retail performance last January. Trailing it in second place is Mitsubishi Motors Philippines Corporation with 6,085 units retailed.

Jostled for third and fourth spots were Ford Motor Company Philippines (2,466 vehicles sold) and Nissan Philippines (2,463 units turned over).

Suzuki Philippines sold 1,485 vehicles in the same period, taking the fifth spot while Isuzu Philippines was at sixth by rolling out 1,165 units to clients.

Completing the top 10 distributors under CAMPI-TMA last month were Honda Cars Philippines Incorporated (seventh place with 1,121 units), Hyundai Motor Philippines Incorporated (eighth spot with 833 vehicles), KP Motors Corporation (Kia’s arm in the country, ninth post with 354 units), and Sojitz G Auto Philippines Corporation (Geely’s local distributor, 10th position with 341 vehicles).

CAMPI-TMA’s overall sales forecast for the year is to reach 468,300 units, which is nine percent higher compared to the previous year’s achievement of 429,807 units.

The group also noted that 2024 performance could exceed CAMPI's goal — and even reach 500,000 units — as the organization is slated to have the 9th Philippine International Motor Show in the second half of 2024, which is eyed to boost sales.

Photos from Ruben Manahan IV

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