According to foreign media reports, a joint report released by the Philippine Automobile Manufacturers Association (CAMPI) and the truck Manufacturers Association (TMA) showed that car sales in the country rose to 37474 in March from 36880 in the same period last year, a slight increase of 1.
6 percent over the same period last year.
This is the slowest pace of sales growth since February 2022, when sales fell 7.
3% from a year earlier.
In March, commercial vehicle sales in the Philippines were 27347, an increase of 2% over the same period last year and accounting for 73% of total new vehicle sales in that month.
However, sales of commercial vehicles fell 3.
8% month-on-month.
In the month, passenger car sales in the Philippines were 10127, up 0.
7 per cent year-on-year and 5.
1 per cent month-on-month.
In the first quarter of this year, car sales in the Philippines rose 12.
7% year-on-year to 109606 units.
Among them, commercial vehicle sales rose 12.
2% year-on-year to 81Jing 395, while passenger vehicle sales rose 14% year-on-year to 28211.
Rommel R.
Gutierrez, chairman of Toyota CAMPI, said in a statement: “year-to-date sales are mainly due to continued growth in demand for new cars and improved overall supply.
The performance in the first quarter also puts us on track to achieve our 2024 target.
” CAMPI conservatively estimates that new car sales in the country will reach 468300 in 2024.
However, with the Ninth Philippine International Motor Show (Philippine International Motor Show) to be held in the second half of the year, the association expects sales of 500000 vehicles this year.
As of the end of march, Toyota remained the highest-selling car brand in the Philippines, with sales rising 9.
9% to 49667 vehicles, continuing to lead the market with a 45.
3% share.
Mitsubishi ranked second, with sales of 20867 vehicles in the Philippines in the first quarter, up 17.
5 per cent from a year earlier and a market share of 19 per cent.
Nissan ranked third, with first-quarter sales up 23.
7% from a year earlier to 7909 vehicles.
Ford and Suzuki ranked fourth and fifth, respectively.
Ford’s first-quarter sales rose 27.
8% from a year earlier to 7531 vehicles, while Suzuki sales fell 1.
9% year-on-year to 4395.
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