New car sales have reached 425,208 units for the first 11 months of 2024 marking an 8.8 percent increase compared to the same period last year. This is according to the latest joint industry report from the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).
At its current trajectory, new car sales will easily eclipse 2023’s 429,807-unit full-year figure. Broken down, Passenger Cars account for 26.02 percent of the market (110,645 units)—an 11 percent increase versus 2023. Commercial Vehicles, meanwhile, dominate with a 73.98 percent share (314,563 units)—an 8.1 percent increase compared to 2023.
However, given the same projection, CAMPI-TMA members will struggle to hit its projected 468,300-unit target it set last August much less its vaunted 500,000-unit target it was confident of reaching just before the industry-backed Philippine International Motor Show (PIMS) opened.
Without a doubt, Toyota will end 2024 as the dominant car brand given their 11-month total has already reached 197,756 units. As the only brand that has consistently sold in the five-digit figures, they command a 46.51 percent market share. In second is Mitsubishi with 81,401 units (19.14 percent) and in third is Ford with 25,770 units (6.06 percent).
Despite the number of Chinese brands entering the market, their penetration remains quite low with just a 5.32 percent market share. This figure includes Geely, which pulled out of CAMPI last July thanks to a change in distributor. It does not, however, include BYD which does not report its sales.
Here’s the complete breakdown.
Cumulative January to November 2024 Vehicle Sales
Year-to-date, GAC has seen the biggest growth with a 78.5 percent improvement versus January to November 2023. The same goes for Hyundai (+31.1 percent), Foton (+14.4 percent), and Kia (+23.8 percent). Severely affected this year are Hino (-12.1 percent), BMW (-27.7 percent), Chery (-20.6 percent), and Jaguar Land Rover (-24.4 percent).
- Toyota – 197,756 (46.51%)
- Mitsubishi – 81,401 (19.14%)
- Ford – 25,770 (6.06%)
- Nissan – 24,516 (5.77%)
- Suzuki – 18,515 (4.35%)
- Isuzu – 15,954 (3.75%)
- Honda – 14,130 (3.32%)
- Hyundai – 10,766 (2.53%)
- MG – 8,196 (1.83%)
- Kia – 5,887 (1.38%)
- Foton – 3,170 (0.75%)
- GAC – 3,060 (0.72%)
- Chery – 2,639 (0.62%)
- Geely – 2,128 0.5%)*
- Hino – 2,122 (0.5%)
- Mazda – 2,039 (0.48%)
- Jetour – 1,592 (0.37%)
- Fuso – 1,207 (0.28%)
- Changan – 932 (0.22%)
- JMC – 917 (0.22%)
- BMW – 768 (0.18%)
- Mercedes-Benz – 0.16%)
- Jaguar Land Rover – 294 (0.07%)
- Chrysler Dodge Jeep Ram – 247 (0.06%)
- Volkswagen – 215 (0.05%)
- Peugeot – 173 (0.04%)
- Terrafirma Motors – 83 (0.02%)
- Man Trucks – 15 (0.00%)
- Ferrari – 14 (0.00%)
- IVECO / Daewoo Trucks – 7 (0.00%)
- Volkswagen Trucks & Buses – 5 (0.00%)
Year-to-date, GAC has seen the biggest growth with a 78.5 percent improvement versus January to November 2023. The same goes for Hyundai (+31.1 percent), Foton (+14.4 percent), and Kia (+23.8 percent). Severely affected this year are Hino (-12.1 percent), BMW (-27.7 percent), Chery (-20.6 percent), and Jaguar Land Rover (-24.4 percent).
In November 2024, the industry recorded sales of 40,898 units—a modest 2.2 percent month-on-month improvement compared to October. It is an 8.5 percent improvement, however, compared to November 2023.
Passenger Car sales were down 2.07 percent month-on-month last November with 9,836 units sold. Commercial Vehicle sales, on the other hand, continued strong with a 3.7 percent month-on-month increase with 31,062 units sold.
Toyota leads all brands with a 47.28 percent market share (19,335 units) followed by Mitsubishi with 19.62 percent (8,025 units), Ford at 5.54 percent (2,265 units), Nissan at 5.45 percent (2,227 units), and rounding out the top five is Suzuki with 4.29 percent (1,753 units).
Among the biggest gainers for November include Jaguar Land Rover with an impressive 966.7 percent month-on-month growth as well as Peugeot (+44.4 percent), Mercedes-Benz (+62.8 percent), and even JMC (+36 percent).
Biggest droppers in November versus October 2024? Mostly Chinese brands such as Foton (-29.2 percent), Jetour (-18.4 percent), Changan (-13.7 percent), GAC (-17 percent), and MG (-15.1 percent). Mazda also suffered a huge dip in sales, dropping some 24.1 percent.
Last November, Chinese brands account for 4.51 percent of total new cars sold with MG managing to carve out a nice 1.96 percent market share. In second was GAC with 0.61 percent.
Here’s the breakdown:
November 2024 New Car Sales
- Toyota – 19,335 (47.28%)
- Mitsubishi – 8,025 (19.62%)
- Ford – 2,265 (5.54%)
- Nissan – 2,227 (5.45%)
- Suzuki – 1,753 (4.29%)
- Isuzu – 1,640 (4.01%)
- Honda – 1,323 (3.23%)
- Hyundai – 1,076 (2.63%)
- MG – 803 (1.96%)
- Kia – 722 (1.77%)
- GAC – 249 (0.61%)
- Hino – 232 (0.57%)
- Foton – 204 (0.5%)
- Chery – 189 (0.46%)
- Jetour – 142 (0.35%)
- JMC – 136 (0.33%)
- Mazda – 123 (0.3%)
- Changan – 120 (0.29%)
- Fuso – 109 (0.27%)
- Mercedes-Benz – 70 (0.17%)
- BMW – 65 (0.16%)
- Jaguar Land Rover – 32 (0.08%)
- Chrysler Dodge Jeep Ram – 21 (0.05%)
- Volkswagen – 17 (0.04%)
- Peugeot – 13 (0.03%)
- Terrafirma Motors – 5 (0.01%)
- Ferrari – 2 (0.00%)
- Toyota – 4,868 (49.49%)
- Mitsubishi – 2,498 (25.4%)
- Suzuki – 811 (8.25%)
- Honda – 596 (6.06%)
- MG – 396 (4.03%)
- Nissan – 370 (3.76%)
- Mercedes-Benz – 70 (0.71%)
- BMW – 65 (0.66%)
- Mazda – 35 (0.36%)
- Ford – 26 (0.26%)
- Toyota – 14,467 (46.57%)
- Mitsubishi – 5,527 (17.79%)
- Ford – 2,239 (7.21%)
- Nissan – 1,857 (5.98%)
- Isuzu – 1,640 (5.28%)
- Hyundai – 1,075 (3.46%)
- Suzuki – 942 (3.03%)
- Honda – 727 (2.34%)
- Kia – 703 (2.26%)
- MG – 407 (1.31%)
No one to blame for kia low sales performance but AC motors, overpricing pa more...
ReplyDelete1. what plans does peugeot and volkswagen have in order to update their product lineups to achieve more sales?
ReplyDelete2. how will we know the number of byd vehicles that have been sold for the year 2024?
We will only know if they decide to report.
DeleteGo MG go!
ReplyDeleteBaic?
ReplyDeleteLynk & Co and BAIC so far don't report sales...unless they're lumped together with either Chery or Foton.
DeleteBiggest droppers china brands, most probably a big % of it cannibalized by BYD. Lots of byd on the roads
ReplyDeleteGrapevine says they do about 600-800 units a month. Some say as much as 1,000-1,200.
DeleteSsangyong nowhere to be seen. Sayang.. the brand's great but the distributors doesn't know how to market.
ReplyDeleteSsangyong (KG Mobility) didn't push through when TCCCI changed management and eventually became HARIPhil.
DeleteChina as usual cannot penetrate. No satisfaction from the owners. They must work harder to penetrate
ReplyDeleteMaybe we will see once the hype is gone, 3 - 5 years of byd ownership, so far feedback on china car brands here in ph generally not good, sales stagnant and even go down. EV's hype fall down in US, customer realized its not practical, specially if you only have 1 car.
DeleteMeanwhile honda, nissan and mitsu are merging together bcoz they cant fight the powerhouse china cars.
DeleteNissan is closing shop. Honda is plagued with millions of recall.. toyota sharing technology with BYD to stay afloat.
Nissan's local sales is gonna drop a lot once the next generation Navara based on the Mitsubishi Triton becomes available which will make the pickup truck more expensive
DeleteTerra is gonna be axed too
Powerhouse china cars? Toyota sharing tech with byd to stay afloat? 🤣🤣🤣 best joke of 2025
Deletewouldn't touch any brand handled by AC.... poor track record, poor after sales.
ReplyDeleteA lot has been said anout Chinese brands. When geely was hot geely would dominate. When mg was hot it would crush the competition. Now byd will be the king yet japs still domintae here. Chinese 5% to 6 % regardless of the slew of China brands
ReplyDeleteBYD is the best selling Chinese vehicle brand in the Philippine market now thanks to the popular Sealion 6,Atto 3 and Seagull
ReplyDeleteKia mostly rely on the strong sales of Sonet LX and Kia Carnival..
Expect BYD Shark and BYD M6 to be launched early this year. Targeting pick ups and MPVs, respectively.
ReplyDelete