The Philippine new vehicle market continued to expand in November 2019, by 10.3% to 34,465 units from 31,258 units in the same month of last year, according to member wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA).
The data did not include non-affiliated brands such as Hyundai, Chevrolet and Subaru, which together accounted for around 12% of the total market last year.
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Commercial vehicle sales increased by 12.9% to 24,914 units last month while passenger car sales were up by 3.8% at 9,551 units.
The vehicle market this year has been slowly recovering from a deep slump in 2018 after the government introduced broad based excise tax increases in January of that year. CAMPI data shows vehicle sales fell by just over 16% to 357,410 units last year from 425,673 units in 2017.
In the first 11 months of 2019 the market expanded by 3.3% to 336,226 units from 325,569 units in the same period of last year, with passenger car sales only slightly higher at 99,951 units while commercial vehicle sales increased by 4.7% to 236,275 units.
Toyota's sales rose by over 5% to 146,160 units in the 11-month period to claim a 43.5% share of the market; followed by Mitsubishi Motors with 58,070 units (17.3% market share); and Nissan with 39,950 units (11.9%).
CAMPI president Rommel Gutierrez expects the overall vehicle market to continue to perform positively in the final month of the year and forecast full-year sales to reach 410,000 units in 2019 – with its member brands accounting for around 89% of the total.
