PH car sales rise by 31% in Oct.

MANILA: Domestic auto sales increased 30.9 percent to 280,300 units in the first ten months of this year (from 214,186 units during the same period previous year), with Toyota Motor Philippines (TMP) accounting for half of the industry's overall sales.

Commercial vehicles were the main drivers of development, according to a report published jointly by the Truck Manufacturers Association (TMA) and the Chamber of Automotive Manufacturers of the Philippines, Inc.

Commercial vehicle sales increased 45.6 percent this 2022, from 145,573 units in the same period last year, to 211,948 units this year. Sales of commercial vehicles made up 75.61 percent of the total for the sector.

Meanwhile, sales of passenger cars fell slightly, by -0.4%, to 68,352 units during the course of ten months, from 68,608 units over the same period from January to October of 2021.

However, on a monthly basis, sales in October were just 32,146 units, which is 8.9% down than the 35,282 units sold in the month before, September.

Among the 27 car companies that are members of CAMPI-TMA, Toyota Motor Philippines sold 140,425 units, which comprise 50.10 percent share of total sales. TMP’s sales also registered a 35.7 percent increase from the 103,475 units sold in the same January to October span in 2021.

With 40,666 units sold, Mitsubishi Motors Philippines Corp. ranks second. This is followed by Ford Motor Co. Phils. Inc. with 18,645 units and Nissan Philippines Inc. with 17,762 units. Suzuki Phils. Inc. completes the top five best-selling brands with sales of 16,167 units.

“The continued double-digit growth recorded anew in October is boosting optimism for the automotive industry, further accelerating full recovery this year from the pandemic disruptions,” CAMPI President Atty. Rommel Gutierrez.

“Sustaining this growth trend in the remaining months of the year gives us confidence that the industry will be able to emerge strong, exceeding its forecast speaking from the current business-as-usual standpoint,” Gutierrez added.

Photos from Hazel Nicole Carreon and Roy Robles

Also read: PH auto industry records another double-digit growth in Sept.