CAMPI-TMA May 2023 YTD sales up by nearly 32%

The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) enjoyed an almost 32-percent growth in year-to-date sales for the full five months of 2023.

Based on the joint report, the two groups collectively sold 166,104 units in the January-May 2023 period compared to only 126,273 vehicles delivered to customers in the same timeline last year.

The commercial vehicle segment (which holds nearly three-quarters of the total sales volume for the said duration) has already rolled out 124,242 examples to buyers — a 31.2-percent increase compared to the 94,727 vehicles sold to clients in the same period in 2022.

On the other hand, the passenger car category, which cornered the remaining 25.2-percent, was able to sell 41,862 units for the first five months of the year — reflecting a 32.7-percent jump from the 31,546 examples turned over to customers in 2022.

Meanwhile, the total number of vehicles sold for  May alone were 38,177 units. The aforementioned number is 24.6 percent higher in comparison to last month’s 30,632-unit sales performance and 45-percent higher than 26,370 units sold in May the previous year.

According to CAMPI President Atty. Rommel Gutierrez, “the growth of new motor vehicle sales in May with nearly 45-percent increase is definitively driven by the high market demand, recording double-digit growths across all segments from the figures last year.”

“The industry also welcomed the country’s sustained economic improvement in major economic sectors, which remain an important factor towards an economic and market conditions that are favorable for the industry and consumers alike”, he added.

Further, Gutierrez said that the “steady year-on-year growth recorded in the first five months gives the industry a reason to be even more optimistic and grateful at the same time as attaining its growth forecast this year feels even closer to reality and proves rather possible.”

Toyota Motor Philippines remains the best-selling automotive brand in the country, selling 77,194 units and holding 47-percent share of the market. Trailing it in second place is Mitsubishi Motors Philippines Corporation with 30,200 units retailed to customers and taking 19-percent of the total vehicle sales volume.

On third spot is Ford Motor Philippines with 11,108 units sold, (6.69 percent share), overtaking Nissan Philippines, which is now in fourth place (10,808 units sold; 6.51-percent share). Rounding up the top five slots is Honda Cars Philippines Incorporated with 7,340 units sold to buyers and cornering 4.42-percent share of the market).

Photos from Ruben Manahan IV

Also read:

CAMPI-TMA Jan.-Apr. 2023 sales improve by 28%

CAMPI-TMA YTD sales grow by 30% in Q1 2023

CAMPI-TMA Feb. 2023 sales up by 34%