CAMPI-TMA YTD sales for May 2024 up by 13%

MANILA: Sales for the Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) for the full five months of 2024 have breached the 187,000-unit mark.

Based on their joint report, the two groups’ year-to-date retail performance as of last month is already at 187,191 — which reflected a 12.7-percent rise compared to the same period in 2023.

Last month alone, CAMPI-TMA had a combined output of 40,271 units, which is 7.9-percent higher than April 2024’s 37,314-example  retail performance and 5.5-percent more than May 2023’s 38,177 vehicles sold.

Cornering 73.69 percent of the local automotive market is the commercial vehicle segment after turning over 137,944 examples to customers during the past five months. The figures showed an 11-percent rise versus the performance in the same timeframe the previous year.

Meanwhile, vehicles under the passenger car segment (which hold the remaining 26.31 percent of the pie), rolled out 49,247 units to clients in the January-May 2024 period. The aforementioned performance is 17.6-percent more than the 41,862 units handed over to buyers within the same period in 2023.

CAMPI President Atty. Rommel Gutierrez attributed the strong sales to the improvements in the supply and good consumer demand, coupled with increase in automotive financial scheme and extensive sales activities.

Maintaining its wide lead against all brands in the country is Toyota Motor Philippines with its market share of 46.08 percent (86,257 vehicles sold). Trailing it is Mitsubishi Motors Philippines Corporation, which held an 18.78 percent share of the overall local sales volume as of last month (35,146 units).

At the third spot is Ford Group Philippines with 12,241 vehicles sold (6.54 percent) followed by Nissan Philippines with 11,559 examples turned over to clients (6.17 percent).

Placing fifth is Suzuki Philippines with 7,975 units sold — controlling 4.26 percent of the market.

To note, CAMPI-TMA is keen on selling 468,300 units by year end.

Photos from Ruben Manahan IV

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%