Last month, new car sales reached 32,146 units compared 22,581 units during the same month in 2021. This means that the industry has now experienced a 30.9 percent increase in sales volume for the first 10 months of 2022 compared to 2021.

That said, the CAMPI-TMA report shows that month-on-month sales is 8.9 percent lower—32,146 in October versus September’s 35,282 units.

Driving new vehicle sales in the Philippines is the commercial vehicle (CV) segment which now accounts for 75.21 percent of new vehicles sold. For January to October 2022, a total of 211,948 units were moved—a robust 45.6 percent growth compared to the same period in 2021.

Meanwhile, 2022 year-to-date passenger car (PC) sales remained flat. For the first 10 months of 2022, it sold 68,352 units versus 68,602 units in 2021—a 0.4 percent decline.

For the month of October 2022, Toyota remained the number one automotive brand selling 15,541 units followed by Mitsubishi with 5,527 units and Ford in third with 2,401. Nissan is fourth with 1,694 and just two units behind is Suzuki at fifth with 1,692 units sold. Further down the list, Hyundai, under its new distributor is closing the sales gap to Kia. In fact, under its new distributor, Hyundai Motor Philippines, the Korean automaker is now part of the Top 10 Best-Selling auto brands for the month.

The October results closely mirrors the Top Five best-selling brands for January to October 2022. Toyota Motor Philippines has sold 140,425 units followed by Mitsubishi with 40,666 units. Ford Philippines continues to stretch its lead in third with 18,645 units over fourth place Nissan Philippines with 17,762 units. Suzuki rounds out the Top Five with 16,167 units sold.