Automotive sales in September this year grow by one percent versus the sales made in August, attributed to the arrivals of new stocks.
According to the joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) on Wednesday, September sales stood at 39,542 versus 39,155 last August.
Meanwhile, the industry’s ending September 2024 sales stood 344,307 units, a 9.4 percent increase from 314,843 units during the same period in 2023.
According to CAMPI president Rommel Gutierrez, “the increase can be attributed to new stock arrivals and improved promotions from the brands.”
Also based on the report, commercial vehicles (CVs) continue to drive the industry performance at 253,542 units accounting for 74 percent of total sales.
Meanwhile, passenger cars registered sales of 90,765 units equivalent to 26 percent share of total sales.
Toyota Motor Philippines Corporation remains the dominant market player with 46.21 percent share, followed by Mitsubishi Motors Philippines Corporation with 19.18 percent, Ford Group Philippines at 6.23 percent, Nissan Philippines Inc. with 5.9 percent and Suzuki Philippines Inc. with 4.35 percent share.
“There were no new model releases last September, possibly due to the brands’ preparation for the upcoming Philippine International Motor Show on 24 to 27 October 2024 where we expect new launches will be made,” Gutierrez said.