The domestic motor vehicle industry is sustaining its positive trend with sales of new motor vehicles recording its 17th consecutive month of growth in July, official industry data showed.

A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that total new motor vehicle sales for July 2023 reached 37,086 units or 2.1 percent higher compared to June sales of 36,311 units, although it was 33.3 percent higher than the 27,813 units sold in July 2022.

The July sales performance also brought total sales of CAMPI-TAMPI to 239,501 units in the January-July period this year, up by 31.1 percent from same period last year. 

Of total industry sales, commercial vehicles contributed the bulk of 179,144 units or 30.4 percent higher than the 137,338 units sold to account for a big 74.8 percent market share. Sales of passenger cars reached 60,357 units or 33.1 percent higher than the 45,349 units sold last year for a market share of 25.2 percent

Toyota Motor Philippines remained on top with total sales of 110,158 units, widening its market share to 51.47 percent. Mitsubishi Motors Philippines Corp. followed with 43,831 units for 18.30 percent share, and Ford Motor Company Philippines Inc. with 16,611 units for 6.94 percent share.    

“The auto industry is sustaining its positive growth trend as sales of new motor vehicles recorded a continued year-on-year growth for the past 17 consecutive months – since March 2022. The industry hopes to maintain this trend for the year,” said CAMPI President Atty. Rommel Gutierrez.

Gutierrez also said that the auto industry is notably going strong despite the consumer spending slowdown attributed to the risks of inflation.

“The auto industry is truly inspired to expand its product and service offerings to the consumers and businesses alike as seeing this continued growing demand for new motor vehicles is indeed a welcome and significant part of growth development,” he said.