October auto sales slightly surge vs September

Automotive sales made a slight spike for October versus last month amid the onslaught of several typhoons, inundating main thoroughfares and also vehicles in Metro Manila and other parts of the country.

“The increase can be attributed to good sales and good stock availability,

neutralizing the effect of severe tropical depression ‘Kristine’ on the operations of dealers nationwide last month,” said the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) President Rommel Gutierrez on Friday.

Based on the joint report by CAMPI and the Truck Manufacturers Association (TMA), the industry-ending October 2024 saw vehicle sales of 384,310 units, an 8.9 percent increase from 352,971 units during the same period in 2023.

Month-on-month, auto sales also perked up at 1.2 percent, or 40,003 sales in October 2024 versus 39,542 sales made in September 2024.

With the said numbers, commercial vehicles still drive the industry performance at 283,501 units, accounting for 74 percent of total sales.

On the other hand, passenger cars registered sales of 100,809 units, equivalent to 26 percent share of total sales.

As always, Toyota Motor Philippines Corporation remains the dominant market player with 46.43 percent share, followed by Mitsubishi Motors Philippines Corporation at 19.09 percent; Ford Group Philippines at 6.12 percent; Nissan Philippines, Inc. with 5.80 percent; and Suzuki Philippines, Inc. with 4.36 percent share.