December 21, 2023

New Car Sales Slow In November 2023; Industry Expected To Hit 423,000 Target


New car sales slowed down last November, down 1.2 percent to 37,683 units compared to October’s 38,128 units. This is according to the latest CAMPI-TMA joint report. The slowdown can be attributed to buyers’ anticipation of year-end promotions that typically close the year. In addition, carmakers themselves have started to focus their attention to Q1 2024 activities.

Last November, Toyota continued to dominate the market with 18,251 units sold helping them corner a 48.43 percent share. They are followed by Mitsubishi in second with 6,641 units (17.62 percent), Ford with 2,583 units (6.85 percent), Nissan with 2,475 units (6.57 percent), and Suzuki with 1,614 units (4.28 percent).

Philippine New Car Sales for November 2023
  1. Toyota – 18,251 (48.43 percent)
  2. Mitsubishi – 6,641 (17.62 percent)
  3. Ford – 2,583 (6.85 percent)
  4. Nissan – 2,475 (6.57 percent)
  5. Suzuki – 1,614 (4.28 percent)
  6. Isuzu – 1,589 (4.22 percent)
  7. Honda – 1,306 (3.47 percent)
  8. Hyundai – 843 (2.24 percent)
  9. Kia – 415 (1.10 percent)
  10. Geely – 328 (0.87 percent)
  11. Chery – 323 (0.86 percent)
  12. Hino – 241 (0.64 percent)
  13. Mazda – 232 (0.62 percent)
  14. Foton – 229 (0.61 precent)
  15. GAC – 226 (0.60 percent)
  16. BMW – 80 (0.21 percent)
  17. Fuso – 74 (0.20 percent)
  18. JMC – 65 (0.17 percent)
  19. Mercedes-Benz – 46 (0.12 percent)
  20. Jaguar Land Rover – 29 (0.08 percent)
  21. Volkswagen – 24 (0.06 percent)
  22. Chrysler Jeep Dodge Ram – 22 (0.06 percent)
  23. MAN Trucks – 22 (0.06 percent)
  24. Peugeot – 12 (0.03 percent)
  25. IVECO – 10 (0.03 percent)
  26. Kaicene – 1 (0.00 percent)
  27. Volkswagen Trucks & Buses – 1 (0.00 percent)
  28. Tata – 1 (0.00 percent)
In terms of month-on-month percentage growth, among the biggest winners were Mazda (+16 percent), Nissan (+11 percent), Peugeot (+9 percent), Chery (+7 percent), and Hyundai (+5 percent). On the other hand, the worst month-on-month performers were Geely (-20 percent), JMC (-27 percent), Jaguar Land Rover (-28 percent), and Mercedes-Benz (-32 percent).

A total of 9,569 passenger cars were sold in November, accounting for 25 percent of total industry sales. This is down to October’s 10,087 figure (-5.1 percent), but up from last year’s 8,931 (+7 percent).

Toyota is the undisputed number one Passenger Car brand cornering a 52.59 percent of the market (5,032) followed by Mitsubishi with 22.1 percent (2,115), and Suzuki in third with 9.31 percent (891).

Top 10 Passenger Car Sales in November 2023
  1. Toyota – 5,032
  2. Mitsubishi – 2,115
  3. Suzuki – 891
  4. Honda – 563
  5. Nissan – 479
  6. Geely – 163
  7. Kia – 101
  8. BMW – 80
  9. Mercedes-Benz – 46
  10. Mazda – 37
The remaining 28,114 are Commercial Vehicles which is flat from October’s 28,041 (+ 0.3 percent), but up 8 percent from November 2022’s 26,106.

Toyota is also the reigning Commercial Vehicle brand in the Philippines last November with a 47.02 percent market share (13,219). They are followed by Mitsubishi in second with 16.1 percent (4,526), and Ford in third with 9.14 percent (2,571).

Top 10 Commercial Vehicle Sales in November 2023
  1. Toyota – 13,219
  2. Mitsubishi – 4,526
  3. Ford – 2,571
  4. Nissan – 1,996
  5. Isuzu – 1,589
  6. Hyundai – 843
  7. Honda – 743
  8. Suzuki – 723
  9. Chery – 322
  10. Kia – 314
CAMPI is still bullish of breaching pre-pandemic sales levels this year. November sales are up 8 percent compared to the same month last year to 35,037. Furthermore, based on cumulative figures from January to November this year, the auto industry has already posted 390,654 units sold up 24 percent from last year’s 315,337. This already surpasses 2019’s full year total of 369,941 units.

In the 11 months so far this 2023, Toyota alone has amassed 180,480 in sales, followed by Mitsubishi in second with 71,833, Ford in third with 28,586 units, Nissan in fourth with 24,743 units, and Suzuki in fifth with 1,614 units.

CAMPI says the industry is on track to hit their forecast of 423,000 units and with an 11-month average of 35,514 units sold monthly, expect the year-end 2023 total to reach around 425,000.
Filed Under: , ,

10 comments:

  1. AnonymousDecember 21, 2023 at 11:18 AM

    Vw 24 units, overpriced saic tharu selling well...maybe 5 units per month. Meanwhile its affordable direct competitor jmc territory selling thousands monthly. Priced well = selling well

    ReplyDelete
  2. AnonymousDecember 21, 2023 at 11:38 AM

    is it not advisable to buy car by end of the year? in 1 or 2 months time 2023 model year is already a year older.

    ReplyDelete
    Replies
    1. AnonymousDecember 21, 2023 at 12:35 PM

      end of the year is the best time to buy a car, car dealers usually throws big discounts to fill up quota.

      Delete
    2. AnonymousDecember 22, 2023 at 3:57 AM

      I don't think so, imo buying a 2023 model unit January next year is better if you are looking for discounts

      Delete
    3. AnonymousDecember 22, 2023 at 7:25 AM

      Car dealers increases prices at the start of the year and dont offer much discounts vs end of the year. By comparison you can look now at car brands website and see it later january.

      Delete
    4. AnonymousDecember 22, 2023 at 5:58 PM

      Increase the prices for 2024 models but 2023 models' prices are the same and even with huge discounts. One example is Honda, you can check their prices and compare the difference if you buy the 2023 model within this year vs next year (year model and prices are indicated on their website).

      Delete
  3. AnonymousDecember 22, 2023 at 3:55 AM

    GAC may surpass Cherry and Geely, Kia is having it's momentum while VW is still...never mind same pricing strategy = low sales

    ReplyDelete
  4. AnonymousDecember 22, 2023 at 12:27 PM

    is ssangyong or kg mobility back to being a member of avid?

    ReplyDelete
  5. AnonymousDecember 22, 2023 at 3:05 PM

    GAC will remain in Top 15 places
    Unlikely for GAC surpass Geely and Chery as the hype and demand for Emzoom is likely gonna fade next year..Low and mid variants of the Emzoom aren't that good enough as buyers don't like its hard to use transmission and its door handles.
    Chery got Tiggo 5x Pro Comfort and Hybrid which are selling very well while the sales of GX3 Pro,Emgrand Sedan and Coolray Premium are good.

    ReplyDelete
  6. TigerDecember 23, 2023 at 8:39 AM

    In past years, car companies would give big discounts in December. They did not do that this year. Without big discounts, might as well wait for January. It could be that some of the big brands have met their sales target and are already looking to fill their 2024 quota.

    ReplyDelete

Feel free to comment or share your views. Comments that are derogatory and/or spam will not be tolerated. We reserve the right to moderate and/or remove comments.