Car Sales Surge in the Philippines for the First Half of the Year
The percentage of car sales in the Philippines consistently rose for the sixth straight month. Given the high demand for vehicles, we look into how this benefits the industry.
According to a 2022 survey conducted by Statista, nearly half of Philippine households owned a motorcycle or tricycle, while about 11% of the respondents own a car, jeep, or van. This is because rather than being a luxury, owning a car in the country has become a necessity—given the challenges that come with the daily commute.
In fact, last year, there were a total of around 1.27 million private cars that were registered. This 2023, the number continues to increase as more Filipinos buy their own cars and register them afterward.
And the data proves just that. Car sales increased by 30.7% compared to the number of sales incurred in the first half of 2022. This percentage was reflected in comparison to how this year has sold 202,415 cars compared to the 154,874 units sold by June 2022.
Car Sales Statistics
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that there were around 36,311 sales in June 2023 compared to the 28,601 units sold in the same month last year. Though it may be higher than last year’s total automotive sales, the numbers show a decrease—given that a total of 38,177 units nationwide were sold on May 2023.
The same scenario applies to commercial vehicles, as numbers increased by 29.2% with 27,325 compared to last year, but dipped by 3.7% compared to last May. Meanwhile, passenger car sales experienced the same with an increase of an annual 20.5% to 8,986 in June despite being 8.2% lower than the 9,792 units sold in May.
All these numbers just show how the car industry is booming. “The auto industry has maintained double-digit positive growth anew at 27% in June—a reflection of improved consumer spending for big-ticket items amidst the significant market for new motor vehicle sales, the main growth anchor of the industry,” says CAMPI President Rommel R. Gutierrez.
In-Demand Car Brands
As for car brands that top the list, Toyota Motor Philippines Corp. takes the lead with the highest number of sales in the first half of the year—selling 93,575 units, which equates to a 46.23% market share.
Next is Mitsubishi Motors Philippines Corp with 37,001 units sold(18.28% share), followed by Ford Motor Co. Phils., Inc. with 13,838 (6.84% share), Nissan Philippines, Inc. with 13,196 (6.52% share), Honda Cars Philippines, Inc. with 8,668 (4.28% share), and Suzuki Phils., Inc. with 8,615 (4.26% share).
“The CAMPI-TMA sales of 202,415 units recorded year-to-date—equivalent to [a] 30.7% increase from the same period a year ago—sends a strong signal of sustained optimism for the industry as we welcome the second half of the year. Maintaining this level of growth on a monthly basis, the industry has indeed high hopes of achieving or even exceeding its sales target for this year,” Gutierrez explains.
Aside from boosting the economy, the consistently high demand for cars proves how people perceive the car manufacturing industry. With that, car brands can make the most out of these numbers to provide Filipinos with quality cars that come with the best features that customers look for.