Automotive sales improved 12.7 percent in May 2024 compared to the figure posted in the same month of 2023.
A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association on Tuesday showed the industry-ending May 2024 with vehicle sales of 187,191 units, a 12.7 percent surge from 166,104 units last May 2023.
Compared to April 2024’s 146,920 units, the May 2024 number is 7.9 percent higher.
What boosted sales
“Improvements in the supply and good consumer demand, coupled with an increase in automotive financial schemes and extensive sales activities helped boost sales monthly,” said CAMPI president Rommel Gutierrez.
In May 2024 automotive sales and commercial vehicles continued to drive industry performance at 137,944 units accounting for 74 percent of total sales.
On the other hand, passenger cars registered sales of 49,247 units equivalent to a 26 percent share of total sales.
Toyota Motor Philippines Corporation continues to dominate the industry with 46.08 percent share, followed by Mitsubishi Motors Philippines Corporation with 18.78 percent, Ford Group Philippines at 6.54 percent, Nissan Philippines Inc. at 6.17 percent, and Suzuki Philippines Inc. with a 4.26 percent share.