CAMPI-TMA H1 2024 sales up by 12%

The Chamber of Automotive Manufacturers of the Philippines Incorporated (CAMPI) and the Truck Manufacturers Association (TMA) breached the 226,000-unit mark for the first half of 2024.

Based on their joint report, the two groups were able to sell 226,279 vehicles — showing an 11.8-percent rise over the 202,415 units sold during the same period in 2023.

In July 2024 alone, CAMPI-TMA handed over 39,088 units to buyers — which is 7.6-percent more than the 36,311-unit retail accomplishment in 2023. However, the recent sales figure is down by 2.9 percent compared to 40,271 vehicles delivered to clients in May 2024.

Per CAMPI President Rommel Gutierrez, the slowdown in sales could be due to the “decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast- moving variants.”

The commercial vehicle segment continues to drive strong retail thrust for the January-June 2024 timeline. The category, which held 73.53 percent of the market, sold 166,404 units in the initial half of the year — growing by almost 10-percent from the 151,567 units sold in the same period last year.

On the other hand, the passenger car category (while cornered 26.46 percent) sold a total of 59,875 examples — a 17.8-percent increase over the 50,848 examples turned over to buyers for the same timeline in 2023.

Toyota Motor Philippines maintained its distant lead over all local automotive distributors after it sold 104,350 units — cornering 18.83-percent market share. It was trailed by Mitsubishi Motors Philippines Corporation with 42,599 vehicles sold and 18.83-percent share.

On third and fourth spots are the country’s distributors of Ford and Nissan vehicles with 14,460 units (6.39 percent share) and 13,939 units sold (6.16 market share), respectively.

At fifth place is Suzuki Philippines with 9,650 units sold, holding 4.26 percent market share.

CAMPI-TMA eyes to roll out 468,300 units to customers by the end of the year.

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CAMPI-TMA breaches 'revised' 2023 sales target

CAMPI-TMA Nov. YTD sales up by 24%