The Philippine automotive industry is still seeing an increase in car sales as of the second half of 2024, but the rate of growth now seems to be slowing down.
In the first six months of the year, a total of 226,279 units were sold locally, according to the latest report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA). This is an 11.8% increase over the 202,415 units sold in the same period in 2023, but it’s smaller than the 12.7% year-on-year growth recorded in the first quarter of 2024.
Month-on-month, the market’s performance is also slightly down, with June 2024 sales of 39,408 units being 2.9% lower than May’s 40,271 units. “The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast-moving variants all contributed to this decline,” said Atty. Rommel Gutierrez, CAMPI president.
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Toyota continues to be the sales champion with 104,350 units sold so far in 2024. Mitsubishi also retains its hold on second place, with 42,599 units sold; after that, there’s some changes in the top 10. Ford (14,460 units) has moved up to third place, displacing Nissan (13,939 units).
Suzuki (9,650 units) remains fifth, while Isuzu (8,225 units) and Honda (7,944 units) have switched places, taking sixth and seventh, respectively. Also hanging on to their spots are Hyundai (5,698 units) in eighth and MG (3,933 units) in ninth, while Geely drops out of the top 10, having been overtaken by Kia (2,448 units).
Commercial vehicles made up the bulk of sales, with 166,404 units accounting for 74% of the total. Passenger car sales amounted to 59,875 units or 26%.
Check out the rankings and sales breakdown below:
Ranking |
Company |
Brand |
Total vehicle sales |
| 1 | Toyota Motor Philippines | Toyota | 104,350 |
| 2 | Mitsubishi Motors Philippines | Mitsubishi | 42,599 |
| 3 | Ford Motor Company Philippines | Ford | 14,460 |
| 4 | Nissan Philippines | Nissan | 13,939 |
| 5 | Suzuki Philippines | Suzuki | 9,650 |
| 6 | Isuzu Philippines | Isuzu | 8,225 |
| 7 | Honda Cars Philippines | Honda | 7,944 |
| 8 | Hyundai Motor Philippines | Hyundai | 5,698 |
| 9 | SAIC Motors Philippines | MG | 3,933 |
| 10 | KP Motors | Kia | 2,448 |
| 11 | Sojitz G Auto Philippines | Geely | 2,128 |
| 12 | BA Motors Philippines | GAC | 1,702 |
| 13 | Foton Motor Philippines | Foton | 1,664 |
| 14 | United Asia Automotive Group | Chery | 1,624 |
| 15 | Bermaz Auto Philippines | Mazda | 1,257 |
| 16 | Hino Motors Philippines | Hino | 1,034 |
| 17 | Jetour Auto Philippines | Jetour | 275 |
| 18 | Sojitz Fuso Philippines | Fuso | 593 |
| 19 | SMC Asia Car Distributors | BMW | 452 |
| 20 | IC Automotive | Changan | 444 |
| 21 | Global Autodistribution | JMC | 440 |
| 22 | IC Star Automotive | Mercedes-Benz | 347 |
| 23 | Coventry Motors - IC Land | Jaguar & Land Rover | 178 |
| 24 | Automobile Central Enterprise | Volkswagen | 101 |
| 25 | BA Motors Philippines | Peugeot | 99 |
| 26 | Columbian Autocar Corporation | Terrafirma | 63 |
| 27 | Columbian Motors Corp. | IVECO Bus and Trucks | 7 |
| 28 | MAN Automotive Concessionaires | MAN | 5 |
| 29 | Pilipinas TAJ Autogroup | Tata Motors | 0 |
| 29 | Velocita Motors | Ferrari | 0 |
| N.R | Others (multiple brands) | 150 |
