Half a million or bust
Toyota still leads the pack with nearly half the market. Mitsubishi follows at a safe distance.
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Toyota still leads the pack with nearly half the market. Mitsubishi follows at a safe distance.
GRAPHICS BY GLENZKIE TOLO
The industry wanted to hit 500,000 units this year, but reality has other plans. It’s the car market’s version of a New Year’s fitness resolution. You start full of hope, confident that this is finally the year you’ll make it. Then life happens, the scale stops moving, and suddenly you’re blaming the weather.
According to the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association, September sales dropped to 38,029 units, down 3.8 percent from the same month last year. It was the third straight monthly dip, although slightly better than August.
From January to September, total sales reached 343,410 units; just a hair below last year’s 344,307. The industry calls it a “minor dip,” but it feels like the car market is simply catching its breath after running too fast in the first half of the year.
Commercial vehicles carried most of the load again, taking almost 80 percent of total sales.
Passenger cars, meanwhile, continued their slump. Buyers are clearly shifting toward vehicles that can do more or at least look like they can survive the next flood. It’s less about luxury now and more about practicality and peace of mind.
Toyota still leads the pack with nearly half the market. Mitsubishi follows at a safe distance. Even with the slowdown, the numbers show how Filipinos continue to value reliability over novelty. It appears that for many Filipinos, buying a car remains a careful decision, not a quick impulse.
The 500,000 mark is still possible, but it will take a strong fourth quarter. The industry hopes for a holiday bump as promos roll out and year-end bonuses arrive. It could still end on a high note, though maybe not the record-breaking one everyone pictured in January.
The auto industry set its sights on 500,000 units this year. Reality had other ideas. But who knows? We’ve seen bigger comebacks, like Ginebra winning a game when everyone thought they were done.
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