Total motor vehicle sales in the country jumped 31.3 percent in 2022 to 352,596 units from 268,488 units in 2021 and exceeded the 336,000-unit full year sales forecast, a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed.
CAMPI President Atty. Rommel Gutierrez noted that surpassing the 2022 CAMPI-TMA sales forecast point to a “strong evidence that the industry has recovered from the impact of the pandemic and other external challenges.”
The full year sales performance was boosted by the growth in sales in December to 37,259 units or 33.8 percent higher compared with 27,846 units recorded in December 2021.
Gutierrez cited the December 2022 sales as the highest monthly sales recorded by CAMPI-TMA.
“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 continued expansion of the economy, creation of new jobs and opportunities is just as important as ensuring that no pandemic disruption occurs anew this year. Nonetheless, the industry will continue to capitalize on the growing market demand for new motor vehicles,” Gutierrez further added.
Data showed that all vehicle segments and categories posted positive growth except for large trucks and buses (Category V), which declined by 21.1 percent.
The commercial vehicle segment boosted sales with 45.6 percent increase to 266,699 units from 183,228 units in 2021.
However, the passenger car segment ended with a flat growth with total sales of 85,897 units or measly 0.7 percent growth from 85,262 units in 2021.
Among the categories under commercial vehicle segment, sales of light commercial vehicles or the sports utility vehicles registered the biggest growth rate of 48.4 percent to 209,728 units from 141,321 units.
Sales of Asian utility vehicles also grew by 45.7 percent to 46,877 units from 32,181 units the previous.
Light trucks contributed 5,340-unit sales or 8.9 percent higher than the 4,904 units sold in 2021. There were also 3,865 units of trucks and buses (category IV) or 4.6 percent higher than the 3,695 units.
Category V was the lone category with negative growth, declining 21.1 percent to 889 units from 1,127 units in 2021.
Toyota Motor Philippines Corp. contributed the bulk with 174,106 units or 34.3 percent higher than the 129,667 units in 2021. Toyota Philippines now accounts for 49.38 percent of total market.
Mitsubishi Motors Philippines Corp. was the second biggest contributor with 53,211 units or 41.7 percent growth from 37,548 units in 2021. Completing the top three was Ford Motor Company Philippines Inc. with 24,710 units or 23.5 percent higher than the 20,005 units sold in 2021. Ford Motor also accounts for 7.01 percent local market share.
Nissan Philippines Inc. finished fourth with 21,222 units and Suzuki Philippines Inc. settled for fifth with 19,942 units sold.