A RECENT joint report filed by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) revealed consolidated sales of their member companies reached 467,252 vehicles in 2024 — up by 8.7% over 2023’s performance (429,807 units). This sum is almost exactly double the sales figure recorded in 2020 (223,793 units), and is the highest-ever for the local auto industry.

In December, 42,044 units were sold — up by 2.8% versus the November figure (40,898). In an accompanying release, CAMPI President Rommel Gutierrez explained that “positive results in December reflect the continued strength of the industry, with strong growth in both passenger cars and key commercial vehicle segments.” He added that “the overall market remains on track to sustain growth into 2025.” In a text message to this writer, Atty. Gutierrez declared that “sales will surpass 500,000 units this year,” underscoring continued bullishness for the auto industry.

Looking at segment share distribution in 2024, CAMPI and TMA revealed that passenger cars “accounted for 25.85% of the market with 120,770 units sold, a 10.5% rise from the previous year. Commercial vehicles, which dominate the market with a 74.15% share, also saw an 8.1% increase in sales (with a) total of 346,482 units.”

The year’s top five auto brands by sales are Toyota with 218,019 units sold (+9% over last year’s figure), cornering 46.66% of the market; Mitsubishi with 89,124 (+13.7%), and 19.07% market share; Ford with 27,997 units sold (-7.29%), getting 5.99% market share; Nissan with 26,774 units (-1.3%) and 5.73% market share, and Suzuki with 20,371 units (+10.4%) and 4.36% share. — Kap Maceda Aguila