Automotive vehicle sales in the country improved by 11.8 percent from January to June 2024 to 226,279 units from 202,415 units in the same period in 2023.
The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed on Friday that both sales of passenger car and commercial vehicle segments increased in the first half (H1) of the year.
Sales of passenger cars grew faster at 17.8 percent versus commercial vehicles’ growth at 9.8 percent.
On the other hand, commercial vehicles accounted for 75 percent of the total six-month sales, while passenger cars shared 25 percent.
Commercial vehicle sales in H1 2024 jumped to 166,404 units from 151,567 units in the same period last year.
Passenger cars sold a total of 59,875 units in H1 2024 from 50,848 units in H1 2023.
For the month of June alone, sales increased year-on-year by 7.6 percent to 39,088 units from 36,211 units.
However, monthly sales slowed down by 2.9 percent in June from May 2024’s sales of 40,271 units.
“The decline in consumer demand, as well as delays in the arrival of vehicle units and supply limitation for fast-moving variants all contributed to this decline,” CAMPI president Rommel Gutierrez said in a statement.
Meanwhile, top car brands in the Philippines for the period are Toyota, Mitsubishi, Ford, Nissan, and Suzuki.
Comments