CAMPI-TMA Nov. YTD sales up by 24%

MANILA: The latest joint report of the Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and Truck Manufacturers Association (TMA) revealed that member companies achieved a 23.9-percent increase in sales for the first 11 months of 2023.

CAMPI and TMA sold a total of 390,654 units from January to November 2023. This is much higher than the 315,337 units that were delivered to customers in the same period in 2022.

In November alone, the two groups sold 37,683 vehicles, up 7.6-percent from the same month of the previous year, but down 1.2-percent from the 38,128 units delivered in October 2023.

The commercial vehicle segment continued to lead the sales surge, accounting for 74.49 percent of the market from January to November. 290,989 commercial vehicle units were sold in the first 11 months of the year, representing a 22.2-percent increase over the 238,054 commercial vehicles that were sold in the same period last year.

In November, the segment sold 28,114 units, which is 0.3-percent higher than the 28,041 units delivered in October 2023, and 7.7-percent higher than the 26,106 commercial vehicles sold in November 2022.

Meanwhile, sales of passenger cars increased to 99,665 units from January to November 2023, reflecting a 29-percent increase over the 77,283 vehicles that were delivered to customers in the same period last year.

CAMPI is optimistic that the automotive industry will be able to surpass pre-pandemic sales this year.

“We already achieved 92 percent of our 2023 forecast in November; we may even exceed our sales forecast of 423,000 units if sales performance in the last three months is sustained,” CAMPI President Rommel Gutierrez stated.

He added that the improved supply across all brands and the persistently aggressive marketing campaigns are driving higher vehicle sales.

Toyota Motor Philippines continued to have the largest share with 180,480 units sold (46.2 percent), followed by Mitsubishi Motors Philippines Corporation with 71,833 (18.4 percent).

Ford Motor Company Philippines came in third with 28,586 units sold (7.3 percent). Nissan Philippines took the fourth spot with 24,743 units (6.3 percent), and Suzuki Philippines ranked fifth with 16,676 units (4.3 percent).

Photos from Ruben Manahan IV and House of Investments

Also read:

CAMPI-TMA YTD sales in Sep. 2023 show 27% rise

CAMPI-TMA YTD sales for Aug. 2023 grow by 30%

CAMPI-TMA records 166,104 units sold from Jan. to May 2023