Car Sales in the Philippines Grew by 30.7% During The First Half of 2023

In the first half of 2023, locally-assembled automotive vehicles in the Philippines experienced a significant growth, with total sales reaching 202,415 units. This represents a 30.7 percent increase compared to the same period in 2022. 

The combined sales report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) revealed that car sales for the first half of 2023 amounted to 47,541 units, surpassing the figures from the previous year.

Toyota Innova is still the best-selling multi-purpose vehicle (MPV) model of Toyota Motor Philippines. Both Toyota Vios, which is the best-selling sedan in the country, and Innova are produced or assembled in the Philippines.

Both the passenger car and commercial vehicle segments demonstrated a growth rate of 30 percent in sales during January to June 2023 compared to the same period in the previous year. The sales of passenger cars specifically increased from 39,003 units in the January to June period of the previous year to 50,848 units in the current year.

Meanwhile, commercial vehicle sales saw a notable rise from 115,871 units in the first half of last year to 151,567 units in the first semester of 2023. 

According to CAMPI President, Mr. Rommel Gutierrez, the industry's performance in the first six months reflects the sustained growth of local car manufacturers. He expressed optimism about the industry's ability to meet or exceed its sales target for the year, considering the consistent monthly growth.

In June 2023 alone, car sales experienced a 27 percent increase, with 36,311 units sold compared to 28,601 units in June 2022. 

Among the top-selling brands in the first half of the year were Toyota, Mitsubishi, Ford, Nissan, and Honda, respectively, showcasing their market dominance during this period.