MANILA: The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) posted a 25.9-percent increase in sales for the full 10 months of 2023.

Based on their joint report, the two groups sold 352,971 units in the January-October of the year which is significantly higher than the 280,300 vehicles rolled out to clients in the same period in 2022.

For October alone, CAMPI and TMA reached consolidated retail figures of 38,128 examples — which is 18.6-percent more compared to the same month of the previous year but is 1.3-percent less than September 2023’s output of 38,628 units.

Leading the sales thrust is still the commercial vehicle segment, comprising 74.47 percent of the market. Models under the said category sold a total of 262,875 units from January to October, reflecting a 24-percent increase over the retail performance of 211,948 vehicles for the same period the previous year.

Last month, the segment retailed 28,041 examples — 3.5-percent lower than September 2023’s 29,070-unit sales performance but is nearly 18-percent more versus the 23,852 in October 2022.

Meanwhile, the passenger car segment was able to sell 90,096 units in January-October 2023, which showed a 31.8-percent rise over 68,352 vehicles delivered to buyers over the same time frame last year.

According to CAMPI President Rommel Gutierrez, vehicle sales were sustained by aggressive marketing activities and supply improvement across all brands. “Consumer appetite is high, and sales are driven by continued pent-up demand, which is also supported by easier access to credit,” Gutierrez said.

He also said that the industry is on track to full recovery to pre-pandemic levels. “We already achieved 83 percent of our 2023 forecast in October; with sustained demand, we are confident that we can achieve 423,000 units sales by year-end,” he noted.

Holding the biggest share of the market is still Toyota Motor Philippines with 162,229 units sold (46 percent), followed by Mitsubishi Motors Philippines Corporation with 65,192 (18.5 percent).

In third place is Ford Motor Company Philippines, Incorporated with 26,003 retailed vehicles (7.4-percent share). The company is trailed by Nissan Philippines with 22,268 units (6.3 percent) and Suzuki Philippines with 15,062 examples (4.3 percent).

Photos from Ruben Manahan IV

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