Vehicle sales grew 31.3 percent last year to 352,596 units from 268,488 in 2021 on the recovery of the domestic economy and the reopening of business activities.
The Chamber of Automotive Manufacturers of the Philippines Inc. and the Truck Manufacturers Association said in a joint report that sales increased across all segments and categories, except for category V for trucks and buses last year.
December car sales accelerated 33.8 percent to 37,259 units from 27,846 a year ago.
“The new motor vehicle sales of 37,259 units in December was the highest monthly performance recorded, which contributed in achieving its full-year sales of 352,596 units,” said CAMPI president Rommel Gutierrez.
“It is worth mentioning that the 37,000-level figure was recorded back in 2017. Achieving it again brings us renewed optimism for a better year ahead for the auto industry,” Gutierrez said.
“With this, CAMPI-TMA sales alone has exceeded the total industry sales forecast of 336,000 units—strong evidence that the industry has recovered from the impact of the pandemic and other external challenges,” he said.
The bulk of the growth came from sales of commercial vehicles which grew 45.6 percent to 266,699 units from 183,228 units in 2021.
Passenger car sales also grew, although at a much slower pace than the commercial care segment. Sales for the passenger car segment rose 0.7 percent to 85,897 units from 85,260 units.
Among the commercial car segment, sales of category V trucks and buses dipped 21.1 percent to 889 units from 1,127 units.
Passenger car sales went up 2 percent in December to 8,614 units from 8,447, while commercial car sales jumped 47.7 percent to 28,645 from 19,339.
Sales in December also improved by 6.7 percent from 35,037 units delivered in November. Passenger car sales slowed 3.55 percent to 8,614 units in December from 8,931 in November. Commercial vehicle sales rose 9.7 percent to 28,645 units from 26,106 units.
Toyota Motor Philippines Corp. remained the market leader with 46.37-market share, followed by Mitsubishi Motor Philippines Corp. with 15.37 percent.
Ford Motor Company Philippines Inc. accounted for 9.2-percent market share, while Nissan Philippines Inc. placed fourth, with 6.86 percent and Isuzu Philippines Corp. ranked fifth with 6.61 percent.
“The continued expansion of the economy, creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year. Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles,” Gutierrez said.