New car sales grew at its slowest pace in over two years last March amid elevated interest rates. The joint report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) showed that sales rose just 1.6 percent to 37,474 units last month compared to 36,880 units a year earlier.
This is the automotive industry’s slowest sales growth since the 7.3 percent decline in February 2022.
Month on month, sales declined by 1.6 percent from 38,072 units in February.
Commercial Vehicles (CVs) continued to drive the industry’s performance in March, as sales went up by 2 percent to 27,347 units from a year earlier. They accounted for 73 percent of the total sales.
However, sales of Commercial Vehicles declined by 3.8 percent from a month earlier.
Month on month, sales declined by 1.6 percent from 38,072 units in February.
Commercial Vehicles (CVs) continued to drive the industry’s performance in March, as sales went up by 2 percent to 27,347 units from a year earlier. They accounted for 73 percent of the total sales.
However, sales of Commercial Vehicles declined by 3.8 percent from a month earlier.
Asian Utility Vehicle (AUV) sales rose by 23.4 percent to 6,421, the only commercial vehicle segment that posted annual growth. Month on month, AUV sales inched up by 1 percent. Vehicles such as the Xpander, Avanza/Veloz, and Ertiga are all counted as AUVs.
Light Commercial Vehicle (LCV) sales slipped by 2.6 percent to 20,101, while sales of Light Trucks fell by 1.3 percent to 447. Sales of Medium Trucks dropped by 17.8 percent to 333 units, while Heavy Truck sales plunged by 61.5 percent to 45. Pickup trucks are classified as LCVs.
Month on month sales of Light Commercial Vehicles, Light and Heavy Trucks also fell by 5.3-, 13.4- and 26.2 percent, respectively.
On the other hand, sales of Medium Trucks grew by 27.6 percent month on month.
Meanwhile, Passenger Car (PC) sales rose just 0.7 percent to 10,127 units from a year ago. Month on month, sales of passenger cars went up by 5.1 percent.
New Car Sales for March 2024
Commercial Vehicle sales rose by 12.2 percent to 81,395, while Passenger Car sales jumped by 14 percent to 28,211 in the January to March period.
New Car Sales for March 2024
- Toyota – 14,597 (44.29 percent)
- Mitsubishi – 7,596 (20.27 percent)
- Nissan – 2,761 (7.37 percent)
- Ford – 2,353 (6.28 percent)
- Suzuki – 1,445 (3.86 percent)
- Isuzu – 1,339 (3.57 percent)
- Honda – 1,335 (3.56 percent)
- Hyundai – 903 (2.41 percent)
- SAIC Motor / MG – 666 (1.78 percent)
- Kia – 405 (1.08 percent)
- Geely – 372 (0.99 percent)
- GAC Motor – 279 (0.74 percent)
- Chery – 275 (0.73 percent)
- Foton – 253 (0.68 percent)
- Mazda – 220 (0.59 percent)
- Hino – 166 (0.44 percent)
- Jetour – 92 (0.25 percent)
- BMW – 81 (0.22 percent)
- Changan – 70 (0.19 percent)
- Fuso – 70 (0.19 percent)
- JMC – 63 (0.17 percent)
- Mercedes-Benz – 42 (0.11 percent)
- Chrysler Jeep Dodge Ram – 29 (0.08 percent)
- Peugeot – 18 (0.05 percent)
- Jaguar Land Rover – 16 (0.04 percent)
- Terrafirma Motors – 15 (0.04 percent)
- Volkswagen – 12 (0.03 percent)
- Volkswagen Trucks & Buses – 1 (0.00 percent)
- Toyota – 4,979
- Mitsubishi – 2,404
- Suzuki – 798
- Honda – 757
- Nissan – 521
- SAIC Motor / MG – 285
- BMW – 81
- Kia – 66
- Geely – 66
- Mazda – 50
- Toyota – 11,618
- Mitsubishi – 5,192
- Ford – 2,351
- Nissan – 2,240
- Isuzu – 1,339
- Hyundai – 903
- Suzuki – 647
- Honda – 578
- SAIC Motor / MG – 381
- Kia – 339
Commercial Vehicle sales rose by 12.2 percent to 81,395, while Passenger Car sales jumped by 14 percent to 28,211 in the January to March period.
Based on the Q1 2024 performance, CAMPI is confident of achieving their 2024 sales target of 468,300 units.
As of end-March, Toyota remained the market leader with a 45.3 percent share as its sales rose by 9.9 percent to 49,667 units.
Mitsubishi ranked second with a market share of 19 percent, as it posted a 17.5 percent increase in sales to 20,867 units in January to March.
In third spot was Nissan, whose sales increased by 23.7 percent to 7,909 units.
In third spot was Nissan, whose sales increased by 23.7 percent to 7,909 units.
Rounding out the top five were Ford which saw a 27.8 percent increase to 7,531 units and Suzuki whose sales slightly dipped by 1.9 percent to 4,395 units.
New Car Sales For Q1 2024
New Car Sales For Q1 2024
- Toyota – 49,667 (45.31 percent)
- Mitsubishi – 20,867 (19.04 percent)
- Nissan – 7,909 (7.22 percent)
- Ford – 7,531 (6.87 percent)
- Suzuki – 4,395 (4.01 percent)
- Honda – 3,841 (3.5 percent)
- Isuzu – 3,811 (3.48 percent)
- Hyundai – 2,565 (2.34 percent)
- SAIC Motor / MG – 1,851 (1.6 percent)
- Geely – 1,132 (1.03 percent)
- Kia – 1,083 (0.99 percent)
- Chery – 789 (0.72 percent)
- GAC Motor – 774 (0.71 percent)
- Foton – 732 (0.67 percent)
- Mazda – 633 (0.58 percent)
- Hino – 426 (0.39 percent)
- Fuso – 275 (0.25 percent)
- Jetour – 267 (0.24 percent)
- BMW – 233 (0.21 percent)
- JMC – 224 (0.2 percent)
- Changan – 174 (0.16 percent)
- Mercedes-Benz – 151 (0.14 percent)
- Jaguar Land Rover – 75 (0.07 percent)
- Chrysler Dodge Jeep Ram – 72 (0.07 percent)
- Volkswagen – 45 (0.04 percent)
- Terrafirma Motors – 43 (0.04 percent)
- Peugeot – 34 (0.03 percent)
- Volkswagen Trucks & Buses – 5 (0.00 percent)
- IVECO – 2 (0.00 percent)
- Toyota – 14,152
- Mitsubishi – 6,343
- Suzuki – 2,382
- Honda – 1,960
- Nissan – 1,343
- SAIC Motor / MG – 836
- Geely – 239
- BMW – 233
- Kia – 210
- Mercedes-Benz – 145
- Toyota – 35,515
- Mitsubishi – 14,524
- Ford – 7,516
- Nissan – 6,566
- Isuzu – 3,811
- Hyundai – 2,565
- Suzuki – 2,013
- Honda – 1,881
- SAIC Motor / MG – 1,015
- Geely – 893
It seems ph car buyers now realized that sunroof is more of a hassle than enjoyable in a hot country. Despite many dealerships, it seems china car brands sales has stagnant and some even on downward trend. China cars fizzled out b4 it could even shine. Isuzu consistently strong, car buyers really preferred realibilty/durability than fancy fancy
ReplyDeleteOnly plebs think that sunroofs are trouble. Real patricians with airconditioned houses and ceramic tinted cars love sunroofs.
DeleteSunroof sucks. They will leak and become rattly eventually
DeleteGeely still affected by the what could just be a small issue on a single casa.. Chinese dealers should be very careful in dealing with aftermarket.. However, chinese cars are still growing in numbers on Ph roads..people are getting used to it..
ReplyDeleteGeely Philippines is preparing to focus on HEVs like what BYD,Dongfeng,GWM and MG did
DeleteGeometry C and Geometry E are gonna compete with the MG4 and Nanobox.
Chinese car brands focus also more premium SUVs,vans,EVs and pickup trucks
China cars here are now premium in prices but low on features and quality. Who will buy a pricy GWM hybrid jolion when you can buy a reasonably priced, battle tested, techie, beautiful corolla cross. Except maybe for GAC, most china car brands here are selling outdated/old models and what worse is they priced it at level of japz cars. No wonder despite so many brands and dealerships they only have miniscule share of ph car sales.
DeleteMay following talaga isuzu especially sa mga older people. Sa tough times like we are in mas mahalaga reliability. For me this is not the time to experiment. Maybe if I have extra cash or offered cheap used other brands then I will try.
ReplyDeleteSales of Isuzu are only high (its actually lower than they're what they achieved ten years ago) due to the overpriced,small,oudated and underpowered Traviz utility vehicle.
DeleteSales of the Traviz are gonna go down a lot once the more modern bigger and affordable Tamaraw utility vehicle of Toyota gets launched later this year.
Combined sales of D-Max and MU-X are mostly around 3 digits per month only and they mostly sell expensive and bare variants.
MG Ph is trumping main Chinese rival Geely Ph.
ReplyDeleteSales of MG looked high as they still sell the MG5 and MGZS that are affordable but bare and outdated already...Those vehicles are barely updated for 5 years already.
DeleteSAIC Motor Philippines refuse to sell the updated versions of MG5 and MGZS as it'll be more expensive.
Sales of MG One isn't that good AFAIK and only a few people are buying the MG4
Without a doubt since they're a newcomer.
ReplyDeletewhen it comes to Chinese brands, I think GAC is the one to watch now
ReplyDeleteCorolla cross the safest among its class, has 9 airbags, aside from curtain airbags, its the only one on its class that has rear passengers side airbags.
ReplyDeleteI just wished they took away that useless sunroof. The gasoline engine is also kinda noisy when the electric one is not running. The rear seats are also a little cramped says my passengers. But fuel consumption is really amazing (city driving weekdays, Tagaytay on weekends).
DeleteIt's just normal than gasoline engine is noisier than the electric motor.
DeleteSales of Kia in the Philippines are going down
ReplyDeleteStonic is out of production already in China and its expected already to be replaced by the China made Kia Sonet which is much more modern but expensive.
China made Seltos and Sorento flopped due to bad pricing