CAMPI-TMA breaches 'revised' 2023 sales target

The Chamber of Automotive Manufacturers of the Philippines, Incorporated (CAMPI) and Truck Manufacturers Association (TMA) broke the 423,000-unit sales goal for 2023.

Based on their joint report, the groups were able to roll out 429,807 units to customers for the full 12-month period last year. The said performance is 21.9-percent higher versus the revised target announced in August 2023.

Last December alone, CAMPI-TMA delivered 39,153 units to buyers — showing a 3.9-percent growth compared to the 37,683 vehicles sold in November 2023 and a five-percent rise over the 35,271 vehicles sold for the same month the previous year. 

Sales of commercial vehicles reflected a 20.2-percent spike compared to the 266,699 examples rolled out in the same period last year. Segment-wise, the 320,543-unit retail output had the biggest share for 2023, cornering 76-percent of the local automotive market.

Meanwhile, 109,264 units under the passenger cars category were handed over to clients last year  — a 27.2-percent jump over the 85,897 units sold from the previous year.

“2023 was a very strong year for the industry and we are very excited about 2024. Positive economic outlook, new model introductions and the electrification trend are expected to contribute to a record-breaking sales this year”, CAMPI President Rommel Gutierrez said.

Toyota Motor Philippines remained the market leader for 2023 with 200,031 units sold (46.54-percent market share), followed by Mitsubishi Motors Philippines Corporation with 78,371 units (18.23-percent portion).

Ford Motor Philippines served as the third best-selling marque with 31,320 units sold (7.3-percent share); while Nissan Philippines is at fourth spot by delivering 27,136 vehicles (6.3-percent).

Suzuki Philippines is the group's fifth top-selling car brand with 18,454 units sold (4.3 percent-market share).

Photos from Ruben Manahan IV

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