The country’s automotive industry has posted 226,279 vehicle units sales in the first half of the current year or 11.8% higher than the 202,415 units recorded in the same period in 2023.
The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) shows that both sales of passenger cars and commercial vehicle segments have increased in the first half (H1) of the year.
The report shows that sales of passenger cars grew faster at 17.8% compared to the 9.8% growth of commercial vehicles, which. However, accounted for 75% of the total half year sales, while passenger cars accounted for the 25% balance.
Commercial vehicle sales in H1 2024 jumped to 166,404 units from 151,567 units in the same period last year, while passenger cars sold a total of 59,875 units in the same period. For the month of June alone, sales increased year-on-year by 7.6% percent to 39,088 units from 36,211 units.
Monthly sales, however, slowed down by 2.9% in June from May 2024’s sales of 40,271 units.
In a statement, CAMPI president Rommel Gutierrez said “the decline in consumer demand, delays in the arrival of vehicle units and supply limitation for fast-moving variants all contributed to this decline.”
The top car brands in the Philippines for the period are Toyota, Mitsubishi, Ford, Nissan, and Suzuki.
