Philippines - Automotive Sales volume, 2024

Flash report, February 2024

Mar 29, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

CAMPI-TMA’s combined vehicle sales in Philippines up 23.2% to 38,072 units in February 2024
Reported on March 27, 2024, the latest data from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales in the Philippines in February 2024 reached 38,072 units, up 23.2% YoY.
In February 2024, sales of commercial vehicles increased 19.9% to 28,434 units. Passenger vehicle car sales, meanwhile, grew 34.1% to 9,638 units.
In the first 2 months of 2024, CAMPI-TMA sales tallied 72,132 units, up 19.4% YoY. Sales of commercial vehicles reached 54,048 units (up 18.2% YoY) and sales of passenger vehicles reached 18,084 units (up 23.1%).
The top 3 brands in the market were still Toyota, Mitsubishi Motors, and Ford.
The positive factors mentioned by CAMPI president were early marketing campaigns, improved inventories, and stable interest rates that help boosting customer confidence. The good momentum is expected to continue, allowing the industry to achieve a strong first quarter finish.

Philippines - Sales of new vehicles

Type	Feb. 2024	Feb. 2023	Y-o-Y	Jan. -Feb. 2023	Jan. -Feb. 2022	Y-o-Y
Passenger Cars	9,638	7,189	34.1%	18,084	14,695	23.1%
Commercial Vehicles	28,434	23,716	19.9%	54,048	45,709	18.2%
Total	38,072	30,905	23.2%	72,132	60,404	19.4%

Source: Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA)

Flash report, January 2024

Feb 22, 2024

*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.

CAMPI-TMA’s combined vehicle sales in Philippines up 15.5% to 34,060 units in January 2024
Reported on February 22, 2024, the latest data from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales in the Philippines expanded 15.5% YoY to reach 34,060 units, recorded in the first month of 2024.
In January 2024, sales of commercial vehicles noted a 16.5% increase YoY with 25,614 units. Passenger vehicle car sales, meanwhile, skipped 12.5% to 8,446 units.
The top 5 brands were Toyota, Mitsubishi Motors, Ford, Nissan, and Suzuki.
For 2024, CAMPI projected local vehicle sales to grow around 9% at the least from 2023 to reach 468,300 units. According to CAMPI president, there are several reasons for optimism despite inflation risks and the imminent taxation of double cap pickups, including new model introductions and the expansion of electrified vehicle line-up especially in the HEV segment, and more brands coming into the Philippine market.
Moreover, the 9th Philippine International Motor Show, which will be held in H2/2024, is expected to help boost sales to even exceed CAMPI’s initial forecast and reach 500,000 units.

Philippines - Sales of new vehicles

Type	Jan. 2024	Jan. 2023	Y-o-Y
Passenger Cars	8,446	7,506	12.5%
Commercial Vehicles	25,614	21,993	16.5%
Total	34,060	29,499	15.5%

Source: Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA)