Automotive sales in the Philippines grew by 27 percent in June to 36, 311 units from 28,601 a year ago, but slowed by 4.9 percent month-on-month from 38,177 in May 2023.
The Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association said in a joint report sales across majority of the segments increased from a year earlier, except for Category 4 trucks and buses.
“The auto industry has maintained double-digit positive growth anew by 27 percent in June—a reflection of improved consumer spending for big-ticket items amidst the significant market for new motor vehicle sales, the main growth anchor of the industry,” said CAMPI president Rommel Gutierrez.
A major automotive stakeholder said that supply issues might have dragged monthly sales in June compared to May’s.
Passenger car sales in June rose 20.5 percent to 8,986 units from 7,457 in the same month in 2022, but slowed by 8.23 percent month-on-month from 9,792 in May.
Commercial vehicle sales in June went up by 29.2 percent to 27,325 units from 21,144 a year earlier, but dropped by 3.7 percent from 28,385 units sold in May.
Total sales went up by 30.7 percent in the first half to 202,415 units from 154,874 in the same period in 2022.
Passenger cars reached 50,848 units from January to June, up by 30.4 percent from 39,003 in 2022.
Commercial vehicle sales increased 30.8 percent to 151,567 units from 115,871.
Toyota Motor Philippines remained the market leader with 46.93-percent share, followed by Mitsubishi Motor Philippines Corp. with 18.29 percent.
Completing the top 5 are Ford Motor Philippines Company Inc. with 6.84-percent market share and Nissan Philippines Inc. and Honda Cars Philippines Inc. with 6.52 percent and 4.28 percent, respectively.