Local auto sales increase 34% in first two months of 2023

MANILA: The first two months of the year saw double-digit growth in the nation's vehicle sales.

According to the most recent data from the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), new motor vehicle sales in January and February increased to 60,404 units from 45,069 units during the same time period last year. Vehicle sales surged by 27.2 percent to 30,905 units alone in February.

“The industry demonstrated anew positive sales growth of 27.2 percent in February 2023 on a year-on-year basis – a clear indicator of a continuously progressing auto industry from the course of the pandemic,” CAMPI President Rommel Gutierrez was quoted as saying. Members of CAMPI and TMA, he said, are still optimistic that this year's car sales will increase by 10 to 15 percent, reaching a predicted total of 395,000 vehicles.

Sales of commercial vehicles increased the most between January and February, up 37% to 45,709 units. A total of 14,695 units of passenger cars were sold during the time, a 25.6 percent increase.

With a 46.85% market share and 28,299 sales, Toyota Motor Philippines Inc. maintained its position as the market leader in January. With a 17.64 percent market share, Mitsubishi Motors Philippines Inc. came in second, while Ford Motor Co. Phils. Inc. held 6.91 percent of the market.

Nissan Philippines Inc. came in at number four with a market share of 5.85 percent. Suzuki Phils. With a market share of 4.87 percent, Inc. rounded out the top five.

Photos from Dylan Afuang and Roy Robles 

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