PH auto sales returned to pre-COVID levels in 2022

Vehicle sales in the Philippines climbed by a third again in December of last year, driving the annual tally above the 300,000 mark—a level not seen since the outbreak of the coronavirus pandemic nearly three years ago.

A joint report from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) said local car companies sold 37,259 units during the last month of 2022.

This is higher than 33.8 percent compared to the 27,846 units sold during the same month in 2021.

CAMPI president Rommel Gutierrez said that the December 2022 performance is the highest monthly performance in terms of number of units.

“With this, Campi-TMA sales alone has exceeded the total industry sales forecast of 336,000 units,” said Gutierrez, adding that this is strong evidence that the industry has recovered from the impact of the pandemic and other external challenges.

“Meantime, it is worth mentioning that the 37,000-level figure was recorded back in 2017. Achieving it again brings us renewed optimism for a better year ahead for the auto industry,” he added.

The Campi official added that the continued expansion of the economy, as well as the creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year.

Toyota still dominates

“Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles,” Guiterrez also said.

The December 2022 figure puts the year-to-date sales at 352,596 vehicle units, equivalent to a 31.3 percent increase compared with the same in the previous year.

It is also the highest annual sales figure since 2019, the year before the global pandemic outbreak, when the Philippines’ annual vehicle sales stood at 369,941 units.

Local automobile firms sold 223,793 units in 2020 and 268,488 units in 2021.

For more than a decade before the onset of the COVID-19 pandemic, motor vehicle sales in the Philippines have been growing steadily at a rate of around 20 to 30 percent a year.

In terms of brands, Japanese car brands continued to dominate the Philippine market all throughout 2022.

Toyota Motor Philippines Corp. continued to occupy the top spot with a 49.38-percent market share, selling 174,106 units during the year.

Mitsubishi Motors Philippines Corp. followed with a 15.09-percent market share (53,211 units); Ford Motor Company Phils. Inc. with 7.01 percent (24,710 units); Nissan Philippines, Inc. with 6.02 percent (21,222 units); and Suzuki Phils., Inc. with 5.66 percent (19,942 units).