CAMPI-TMA Q1 2024 sales grow 13%

MANILA: The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) closed the first quarter of 2024 on a positive note after they posted a nearly 13-percent increase in sales versus the same period last year.

Based on their joint report, the groups were able retail a total of 109,606 units during the initial three months of the year —  a 12.7 percent rise when compared to the 97,284 vehicles rolled out during same duration in 2023.

For the month of March alone, CAMPI and TMA jointly sold 37,474 vehicles, which is 1.6-percent lower than the February’s 38,072 but is higher by the same percentage versus the 36,880 examples sold for the same month the previous year.

Holding 74.26-percent of the total year-to-date sales is the commercial vehicle segment with 81,395 units — which is 12.2-percent more than the 72,531 vehicles retailed for the first quarter of 2023.

Passenger car sales, the same report also showed, had a total of 28,211 units delivered to clients in the opening quarter of the year. The aforementioned figure is 14-percent higher than the 24,753 vehicles handed over to buyers.

CAMPI President Rommel Gutierrez attributed the first quarter sales performance to the sustained demand for new vehicles, supported by overall supply improvement. “Our Q1 performance keeps us on track to achieve our 2024 target,” he mentioned.

For 2024, CAMPI is eyeing to sell 468,300 units.

Toyota Motor Philippines continues to lead the local automotive sales with 49,667 units (45.31-percent market share), followed by Mitsubishi Motors Philippines Corporation with 20,867 examples sold to customers (19.04-percent share).

Nissan Philippines Incorporated cornered a 7.22 percent of the market with 7,909-vehicle retail performance, while Ford Group Philippines is at the fourth spot with a 7,531-unit output (6.87 percent share).

Rounding up the top five manufacturers in the country is Suzuki Philippines Incorporated with 4,395 units (4.01-percent share).

Photos from Ruben Manahan IV

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