CAMPI-TMA hits 425k-unit mark for Jan.-Nov. 2024

MANILA: The Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) sold 425,208 vehicles in the past 11 months of 2024.

Based on their joint report, the two groups experienced an 8.8-percent growth in retail volume versus the 390,654 units sold for January-November last year.

Last month alone, CAMPI and TMA had an overall sales performance of 40,898 units — reflecting an 8.5-percent increase compared to 37,683 vehicles delivered to customers in November 2023 and is 2.2 percent more than the 40,003 units in October this year.

Retail output per segment

The two groups’ 11-month output were mainly driven by the commercial vehicle category (cornering 73.98 percent of the market) after having a total of 314,563 units sold — showing an 8.1-percent rise over the 290,989 vehicles handed over to buyers for the same duration the previous year.

Vehicles under the passenger car segment (which had the remaining 26.02-percent market share) collectively sold 110,645 examples — 11-percent higher than the 99,665 vehicles turned over to clients in the January-November 2023 period.

Top 10 brands for Jan.-Nov. 2024

Toyota Motor Philippines continues to be the country’s best-selling automotive marque after retailing 197,756 units (46.51-percent market share) followed by  Mitsubishi Motors Philippines Corporation with 81,401 (19.14-percent share) and Ford Motor Philippines with 25,770 (6.6 percent).

Keeping the fourth and fifth spots were Nissan Philippines (24,516 examples sold; 5.77- percent market share) and Suzuki Philippines (18,515 units retailed; 4.35-percent).

Further maintaining their positions at sixth, seventh, and eighth places were Isuzu Philippines Corporation (15,954 units sold, 3.75-percent overall market share), Honda Cars Philippines (14,130 vehicles retailed, 3.32 percent), and Hyundai Motor Philippines (10,766 examples, 2.53 percent).

The ninth and 10th spots in the list are still with SAIC Motors Philippines (distributor of MG vehicles in the country) with 8,196 units turned over to clients (1.93 percent), and the Ayala-led KP Motors Corporation (Kia) with 5,887 vehicles sold (1.38 percent).

Below are the Top 10 automotive distributors under CAMPI-TMA.

Company	Vehicles sold (as of October 2024	Market share (in percentage)
Toyota Motor Philippines	197,756	46.51
Mitsubishi Motors Philippines Corporation	81,401 units	19.14
Ford Group Philippines	25,770	6.6
Nissan Philippines	24,516	5.77
Suzuki Philippines Incorporated	18,515	4.35
Isuzu Philippines Corporation	15,954	3.75
Honda Cars Philippines Incorporated	14,130	3.32
Hyundai Motor Philippines	10,766	2.53
SAIC Motor Philippines	8,196	1.93
KP Motors Corporation	5,887	1.38

Earlier, TMP Chair Alfred Ty expressed belief that the country’s automotive sector will likely hit the 470,000-unit sales target for 2024.

The executive also said that the industry might even breach the 473,000-unit sales record tallied in 2017.

Also read:

CAMPI-TMA closes Q3 2024 with 9% sales increase

CAMPI, TMA Aug. YTD sales breach 304k-unit mark

CAMPI-TMA sells 265k units in Jan.-Jul. 2024