December 1, 2023

Pent Up Demand, Easier Access To Financing Push New Car Sales Up 18.6 Percent In October


Philippine new car sales saw an 18.6 percent increase last October compared to the same month in 2022 based on the latest joint CAMPI-TMA report. This brings the total number of new vehicle sales to 352,971 units, putting the industry on track to a full recovery versus pre-pandemic levels.

Toyota remained the undisputed leader cornering a 47.2 percent share of the market in October thanks to sales reaching 17,997 units. In second was Mitsubishi with an 18.69 percent share (7,127 units). Ford (2,912 units or 7.64 percent), Nissan (2,231 units or 5.85 percent), Isuzu (1,578 units or 4.14 percent) completed the Top 5.

With most car brands declaring the supply chain issues behind them, most brands saw positive numbers compared to October 2022 figures. Some, however, stood out such as Jaguar Land Rover with an impressive 900 percent growth, followed by Hyundai with 127 percent, Honda with 46 percent, and Mazda with 45 percent. Even the leading brands such as Toyota (16 percent), Mitsubishi (29 percent), Ford (21 percent), and Nissan (32 percent) all recorded growth. On the other end, there’s Peugeot (down 81 percent), Volkswagen (down 68 percent), and Fuso (down 47 percent).

When compared to September 2023 sales, GAC Motor saw the biggest gains with sales rising 32 percent. They are followed by JMC with 27 percent, Honda with 13 percent, Geely with 9 percent, and Toyota with 3 percent. The biggest losers? Fuso (down 47 percent), Peugeot (down 39 percent), and BMW (down 33 percent).

This is how the industry stacked up last October:

Philippine New Car Sales for October 2023
  1. Toyota – 17,997 (47.2 percent)
  2. Mitsubishi – 7,127 (18.69 percent)
  3. Ford – 2,912 (7.64 percent)
  4. Nissan – 2,231 (5.85 percent)
  5. Isuzu – 1,578 (4.14 percent)
  6. Suzuki – 1,572 (4.12 percent)
  7. Honda – 1,356 (3.56 percent)
  8. Hyundai – 803 (2.11 percent)
  9. Kia – 423 (1.11 percent)
  10. Geely – 412 (1.08 percent)
  11. Chery – 303 (0.79 percent)
  12. Foton – 283 (0.74 percent)
  13. GAC Motor – 268 (0.7 percent)
  14. Hino – 268 (0.68 percent)
  15. Mazda – 200 (0.52 percent)
  16. JMC – 89 (0.23 percent)
  17. BMW – 80 (0.21 percent)
  18. Mercedes-Benz – 68 (0.18 percent)
  19. Fuso – 53 (0.14 percent)
  20. Jaguar Land Rover – 40 (0.1 percent)
  21. Volkswagen – 26 (0.07 percent)
  22. Chrysler Dodge Jeep RAM – 23 (0.06 percent)
  23. Peugeot – 11 (0.03 percent)
  24. MAN Trucks – 9 (0.02 percent)
  25. Chengdu Daiyun / Mahindra – 2 (0.01 percent)
  26. Kaicene – 1 (0.00 percent)
  27. Tata – 1 (0.00 percent)
Passenger Car sales reached 10,087 units or 22 percent higher than the year before. This figure is also up 5.5 percent compared to September 2023’s 9,558 units. Toyota is the best-selling passenger car brand with a 48.84 percent market share (4,926 units). They are followed by Mitsubishi, Suzuki, Honda, and Nissan.

These are the Top 10 Passenger Car brands last October:
  1. Toyota – 4,926 units
  2. Mitsubishi – 2,656 units
  3. Suzuki -824 units
  4. Honda – 556 units
  5. Nissan – 490 units
  6. Geely – 285 units
  7. Kia – 86 units
  8. BMW – 80 units
  9. Mercedes-Benz – 65 units
  10. Mazda – 46 units
On the other hand, Commercial Vehicle sales last October are up 18 percent to 28,041 units compared to October 2022’s 23,852 units. Unfortunately, this is down 3.5 percent compared to the 29,070 units sold in September.

Toyota also led the Commercial Vehicle segment last October with 46.61 percent market share, followed by Mitsubishi (15.94 percent), Ford (10.31 percent), Nissan (6.21 percent), and Isuzu (5.63 percent) completing the Top 5.

These are the Top 10 Commercial Vehicle brands last October:
  1. Toyota – 13,071 units
  2. Mitsubishi – 4,471 units
  3. Ford – 2,890 units
  4. Nissan – 1,741 units
  5. Isuzu – 1,578 units
  6. Hyundai – 803 units
  7. Honda – 800 units
  8. Suzuki – 748 units
  9. Kia – 337 units
  10. Chery – 303 units
Year-to-date sales (January to October 2023) saw Hyundai as the biggest gainer compared to the same period in 2022 with a 501 percent increase in sales. They are followed by Geely with 150 percent (although their growth has significantly slowed), Kia (123 percent), MAN Trucks (105 percent), and Mitsubishi (60 percent). On the opposite end, SsangYong (down 94 percent), Kaicene (down 84 percent), Volkswagen Trucks & Buses (down 65 percent), Peugeot (down 56 percent), and Volkswagen (down 55 percent) saw the biggest declines.

In a statement CAMPI says the growth in vehicle sales were sustained by aggressive marketing activities, pent-up consumer demand, and easier access to financing.

CAMPI has already reached 83 percent of their 2023 forecast and if the demand for new cars is sustained, they are confident to reach their 423,000-unit sales target by year-end.
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14 comments:

  1. AnonymousDecember 1, 2023 at 10:07 AM

    Sales of Geely is still doing well thanks to the GX3 Pro,Emgrand Sedan,Coolray Premium and Okavango Urban..Expect more sales number improvements thanks to the huge cash discounts they're offering for the Coolray and Okavango.
    Peugeot is massively down but expected to improve with the help of huge cash discounts they're offering.
    Sales of Volkswagen is down this year as expected but they'll be okay next year once the ID series EVs arrive.

    ReplyDelete
    Replies
    1. AnonymousDecember 1, 2023 at 11:05 AM

      ID wont stand a change against byd, both on features and pricing.

      Delete
    2. AnonymousDecember 3, 2023 at 1:12 AM

      Doing well means 5 units sold per month

      Delete
  2. AnonymousDecember 1, 2023 at 4:41 PM

    Now it can be confirmed that the overpriced tharu is another flop for vw ph. A very clear and simple solution to improved tharu sales is to priced it as same as the ford teŕitory. They both came from china, almost same specs/features, both has 1.5L engine that enjoy lower import tax. Maybe vw ph think pnoy car buyers are idiots.

    ReplyDelete
  3. AnonymousDecember 1, 2023 at 4:56 PM

    As long VW Phils will not offer global models their sales will continue to decline. Very evident naman na hindi talaga maganda reception sa chinese-made non global VW models ang laki ng discounts wala pa rin. VW and Peugeot if they will offer their pickup models baka maka bawi.

    ReplyDelete
  4. AnonymousDecember 2, 2023 at 12:41 PM

    More or less 5 years na dito china cars, despite lower price and lots of dealerships katiting parin market share nila. It means china cars at least here failed the litmus test of reliability, durability, customers experience.

    ReplyDelete
    Replies
    1. AnonymousDecember 2, 2023 at 1:43 PM

      Chinese cars and trucks are in the Philippine market since 2000's.😂
      There are at least 70,000 to 80,000 passenger cars,commercial vehicles,buses and trucks made in China exported and sold to the Philippine market since the mid 2000's up to 2020's.
      More choices the better!

      Delete
  5. Retro Game Master December 2, 2023 at 12:55 PM

    Volkswagen won't sell the Amarok here as its made in South Africa only and it'll be priced at 2.6 Million Pesos to 3 Million Pesos due to taxes if ever they bring it here..No point bringing it here.
    Volkswagen Philippines already sold thousands of made in China Volkswagen vehicles in the Philippine market since 2018 and they're mostly Santana Sedan and T-Cross units.
    Tharu/Taos and T Cross are the remaining global model vehicles of Volkswagen Philippines on sale in the Philippine market..Multivan Kombi was axed due to pricing issues.
    AC Motors isn't concerned about the sales numbers of Volkswagen Philippines anymore as they plan in the future to sell the ID series of vehicles made in China here in the Philippine market.

    ReplyDelete
    Replies
    1. AnonymousDecember 2, 2023 at 5:28 PM

      Ac motors not concerned on sales number of vw cars here??? What are smoking lately??? Every car distributors/dealerships want to sell as many units as possible, its a business after all.

      Delete
    2. AnonymousDecember 3, 2023 at 1:15 AM

      But for a car to be considered aelling well, its only 5 units sold per month, right?

      Delete
  6. AnonymousDecember 3, 2023 at 10:07 AM

    Walang changan?

    ReplyDelete
    Replies
    1. Ulysses AngDecember 3, 2023 at 6:43 PM

      Under their previous distributor, Changan wasn't part of CAMPI. With their new distributor though, you might see them joining CAMPI soon.

      Delete
  7. AnonymousDecember 4, 2023 at 4:13 PM

    Whether you like it or not, Chinese carmakers will eventually become the leader in next 5-10 years. They are everywhere now in other countries.

    ReplyDelete
    Replies
    1. AnonymousDecember 5, 2023 at 6:52 AM

      🤣🤣🤣 well just look at china car sales here in ph, its just recently posted here. They were every where here in ph, lots and lots of dealerahips, matagal na cila dito sa pinas(nagkakalat) katiting parin ang market share.

      Delete

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