Auto sales drop 2.9% in June

Automotive sales declined this June 2024 against sales posted a month before.

Based on the latest joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), June 2024 sales hit 39,088, 2.9 percent lower than the May 2024 sales of 40,271.

“The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitations for fast-moving variants all contributed to this decline,” said CAMPI President Rommel Gutierrez in a statement on Friday.

However, year-on-year auto sales posted an 11.8 percent increase, with January to June 2024 sales of 226,279 against 202,415 units during the same period in 2023.

The report further stated that commercial vehicles continue to drive industry performance at 166,404 units accounting for 74% of total sales.

Meanwhile, passenger cars registered sales of 59,875 units equivalent to a 26 percent share of total sales.

Toyota Motor Philippines Corporation remains the dominant market player with a 46.12 percent share, followed by Mitsubishi Motors Philippines Corporation at 18.83 percent, Ford Group Philippines at 6.39 percent, Nissan Philippines, Inc. at 6.16 percent, and Suzuki Philippines Inc. with a 4.26 percent share.