2023 proved to be an interesting year for the Philippine automotive industry. A whole year of the normal operations has contributed to growth in the industry with total vehicle sales moving up to 441,408 vehicles, according to a report from AutoIndustriya.com
Proving to be very interesting is the fact that the list of top 10 best-selling vehicles in the country is populated by just two brands: Toyota and Mitsubishi. Toyota is, by far, the runaway market leader, with eight models occupying the top 10 list for another year. Nonetheless, Mitsubishi has been keen on preventing a perfect score with models ranked in the third and fourth spot. Below are the models and their sales numbers.
The Top 10
| Rank | Model | Volume (in units) |
| 1 | Toyota Vios | 37,971 |
| 2 | Toyota Hilux | 25,958 |
| 3 | Mitsubishi Mirage G4 | 23,400 |
| 4 | Mitsubishi Xpander | 22,509 |
| 5 | Toyota Raize | 17,504 |
| 6 | Toyota Innova | 16,728 |
| 7 | Toyota Hiace | 15,017 |
| 8 | Toyota Wigo | 14,676 |
| 9 | Toyota Fortuner | 13,971 |
| 10 | Toyota Veloz | 13,672 |
Top 5 brands
| Rank | Brand | Volume | Market Share % |
| 1 | Toyota | 198,188 | 44.90 |
| 2 | Mitsubishi | 78,371 | 17.75 |
| 3 | Ford | 31,320 | 7.10 |
| 4 | Nissan | 27,136 | 6.15 |
| 5 | Suzuki | 18,454 | 4.18 |
| Others | 19.92 |
As is evident, the locally made Toyota Vios is still the runaway leader. The vehicle is undoubtedly the number one due to its reliability, affordability, and easy of maintenance. It continues to be a favored for both private and fleet buyers.
Coming in second is the Toyota Hilux. This has likely been spurred by key improvements Toyota has implemented, such as offering the new Hilux GR-S to fight off newer competitors like the Ford Ranger Raptor.
Making it to the last podium step is the Mitsubishi Mirage G4. Another locally assembled vehicle, the Mirage is also a very affordable car, and offers comparable fuel efficiency thanks to its 1.2-liter 3-cylinder engine.
In fourth place is the Mitsubishi Xpander, the brand’s top-selling seven-seater MPV, despite being a couple of years old already. For the first time, the Xpander has managed to outsell the many similar offerings from Toyota, being the Innova, Rush, and Avanza. It is likely because of the model’s more pliant ride and car-like driving characteristics.
Rounding out the top 5 is the Toyota Raize, the new small crossover which comes in a very-manageable size but with the ground clearance to wade through small floods.
In sixth place is the Innova which has slid down from its third place. However, this may be in part due to the arrival of the Avanza and Veloz that offer a similar 7-seater configuration but a more attainable price.
In seventh is the Hiace, continuing the enjoy high demand despite its size and price because of its established name-plate and new front-mounted engine that allows it to offer more interior space.
In eighth place is the Wigo, Toyota smallest model, still a favorite among first time buyers and veterans alike.
In ninth is the Fortuner, which continues to lead the 7-seater mid-size SUV segment, far ahead competitors like the Mitsubishi Montero Sport, Ford Everest, Nissan Terra, and Isuzu mu-X.
Rounding up the top 10 is the Veloz, the premium version of the 7-seater Avanza MPV that offers a more attractive form and better interior equipment.
Evident trends
Over the past couple of years, the industry has seen many sedan models slowly being discontinued, with brands citing slowing sales and a growing preference for small crossover vehicles and SUVs. Despite many forecasts of the end of the long-favored sedan, the body shape continued to buck the trend, with two models in that very form ranking in number 1 and number 3.
Another interesting trend is the dominance of multi-passenger vehicles (MPVs) which are made up of cars with seven or more seats. These are the Xpander, Innova, Fortuner, Veloz, and of course, the Hiace. It’s clear that efficiency in transporting a large number of vehicles is of prime importance.
The last evident trend is the presence of many compact or smaller cars. The Vios, Mirage, Raize, and Wigo are all small vehicles, showing a high preference in the market for personal vehicles used to commute to and from work.
Runaway leaders
While the Philippine auto industry boasts of as many as 50 global brands available locally, the fact that just two brands dominate the top 10 is a clear signal that the rest have yet to step up their game.
Toyota has done so by offering a model for practically every possible niche and at competitive prices. Quite surprisingly, Mitsubishi’s strategy is actually the opposite. The brand’s lineup is made up of just a handful of vehicles in key categories, and has still managed to land it within the top 10.
It’s not for lack of trying as the rest of the trailing brands, Ford, Nissan, and Suzuki also have models in key segments that Toyota and Mitsubishi are in. Nonetheless, the lopsided market shares prove that there’s still a lot of catching up to do for the other brands in the Top 5.