Sales of automotive vehicles in the Philippines grew by 2.4 percent in September, the second slowest performance so far this year, amid softer purchases of commercial vehicles, including heavy-duty and light trucks and buses.
The latest report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association showed that local dealers sold 39,542 vehicles during the month, slightly above the 38,628 units recorded in the same month in 2023.
“There were no new model releases last September, possibly due to the brands’ preparation for the upcoming Philippine International Motor Show in October where we expect new launches will be made,” Campi said in a statement.
Purchases of light commercial vehicles dipped by 9.2 percent to 20,964 units from 23,098 units, while those of light duty trucks and buses fell 11 percent to 544 units from 611 units.
Sales of heavy-duty trucks and buses during the same month also decreased by 11 percent to 72 units from 81 units in September 2023.
9-mo sales growth
The sales growth in September was the second lowest in 2024, following the March growth rate of 1.6 percent.
Still, the latest posting brought the year-to-date sales to 344,307 units, a 9.4-percent increase from the 314,843 units sold during the same nine-month period last year.
The data from the two automotive industry groups also showed that the commercial vehicles still accounted for the majority of the sales during the month, comprising 73.06 percent of the total, which is equivalent to 29,104 units.
The remaining 26.40 percent of purchases are in the passenger car segment, totaling 10,438 units.
In terms of brands, Toyota Motor Philippines Corp. continues to have a wide lead with its market share of 46.62 percent, which is equivalent to selling 18,434 units during the month.
Mitsubishi Motors Philippines Corp. was a far second with a 19.01-percent market share, followed by Ford Motor Company Phils. Inc. with 6.26 percent, Nissan Philippines, Inc. with 5.19 percent, and Suzuki Phils., Inc. with 4.51 percent.