The Philippine new vehicle market improved marginally in December 2021 with sales rising to 27,846 units, from weak year-earlier sales of 27,596, 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 rebound from the low last August, after the government began to ease covid-related restrictions as the country began to recover from covid Delta wave, has slowed significantly.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In December, both businesses and consumers turned more cautious as news emerged that the Omicron variant had begun to spread across the region.

The associations’ data showed vehicle sales increased by 20% to 268,488 units last year after falling by almost 40% to 223,793 in 2020, with passenger vehicle sales growing by 22% to 85,260 and commercial vehicle sales up by 19% at 183,228.

Toyota Motor Philippines sold 129,667 vehicles last year, followed by Mitsubishi Motors with 37,535 units and Ford at 20,010 units.

The data did not include members of the Association of Vehicle Importers and Distributors (AVID), which reported a 26% increase in combined sales to 43,957 units in the first nine months of the year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

CAMPI president Rommel Gutierrez said in a statement: “The industry remains optimistic of a continued recovery in 2022 from the COVID-19 pandemic downturn, as progress on inoculation has provided hopes for a better outlook for the wider economy.”

He added: “Business-as-usual is still unlikely as challenges remain.”