PH auto industry likely to breach 470K-unit sales target for 2024

MANILA: The top executive of Toyota Motor Philippines (TMP) expressed firm belief that the local automotive industry will likely breach the 470,000-unit sales target for 2024.

TMP Chair Alfred Ty made the announcement during a media luncheon, saying that the industry has shown strength during the previous months.

With the rate things are going for the industry, the leading automotive distributor in the country’s top executive also said that it is even possible that this year’s retail performance might even overtake the 473,000-example output that the industry experienced in 2017.

To recall, members of the Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) already sold 352,971 units in the first 10 months of 2024 —with non-CAMPI-TMA brands not yet included in the tally.

 

Joining TMP at the country's top five automotive distributors' list as of October 31, 2024 are Mitsubishi Motors Philippines Corporation, Nissan Philippines, and Suzuki Philippines.

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