Auto Industry Sales Rose 44.8% In May

Car sales in May this year grew a dramatic 44.8 percent versus May 2022 with 38,177 units sold, bringing year-to-date sales to 166,104 units or 31.5 percent higher than the same period last year, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed.

Photo Insert: Industry leader Toyota Motor Philippines sold a total of 77,194 units year-to-date.

CAMPI president, Rommel Gutierrez, said the growth was driven by high market demand, recording double-digit growths across all segments from the figures last year. Of the total 38,177 sales in May, the passenger car segment contributed 9,792 units, or 33.8 percent higher than April this year and 40.5 percent more than May 2022 sales.

Meanwhile, the commercial vehicle segment contributed the bulk of 28,385 units, or 21.7 percent higher than the previous month and 46.3 percent more than in May 2022.

On a year-to-date basis, the passenger car segment contributed 41,862 units or 32.7 percent higher than the 31,546 units in the same five-month period last year.

The commercial vehicle segment contributed the bulk of 124,242 units or 31.2 percent higher than the 94,727 units sold in the Jan-May period 2022. Meanwhile, the commercial vehicle segment contributed the bulk of 28,385 units, or 21.7 percent higher than the previous month and 46.3 percent more than in May 2022.

On a year-to-date basis, the passenger car segment contributed 41,862 units or 32.7 percent higher than the 31,546 units in the same five-month period last year. The commercial vehicle segment contributed the bulk of 124,242 units or 31.2 percent higher than the 94,727 units sold in the Jan-May period 2022.

The commercial vehicle segment accounted for 74.8 percent market share while the passenger car with 25.20 percent.

“The steady year-on-year growth recorded in the first 5 months gives the industry a reason to be even more optimistic and grateful at the same time as attaining its growth forecast this year felt even closer to reality and proves rather possible,” said Gutierrez.

Industry leader Toyota Motor Philippines sold a total of 77,194 units year-to-date while Mitsubishi Motors Philippines contributed 30,200 units, and Ford Motor Philippines with 11,106 units.

The commercial vehicle segment accounted for 74.8 percent market share while the passenger car with 25.20 percent.

“The steady year-on-year growth recorded in the first 5 months gives the industry a reason to be even more optimistic and grateful at the same time as attaining its growth forecast this year felt even closer to reality and proves rather possible,” said Gutierrez.

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