PH auto sales dipped 1.2% in May
Sales of automotive vehicles in the country dipped by 1.2 percent in May, marking its second consecutive month of decline this year as weaker passenger car purchases continued to drag overall market performance.
Data released on Wednesday by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association showed that sales during the month reached 39,775 units from 40,271 units in the same month in 2024.
Passenger car sales in May plunged by 28 percent from a year ago to 7,895 units as consumer sentiment remained weak, while commercial vehicle purchases increased by 8.8 percent to 31,880 units.
But despite the decline in overall sales in May, the decrease was less steep compared to the 10-percent drop recorded in April, which saw a 35.5-percent decline in passenger car sales and a 0.7-percent dip in commercial vehicle sales.
May sales numbers brought total vehicle sales for the first five months of the year to 190,429 units, reflecting a 1.7-percent growth compared with the 187,191 units in the comparable period last year.
Campi also highlighted a month-on-month growth in May, citing an 18.4-percent increase from the 33,580 units sold in April.
Sales of electric vehicles also climbed from 1,509 units in April to 3,613 units in May.
Hybrid vehicles made up 77.28 percent; plug-in hybrid vehicles, 0.55 percent, and battery electric vehicles, 22.17 percent of total electric vehicle sales.
In terms of purchases by brand, Toyota Motor Philippines Corp. maintained a strong lead with a 49.59-percent market share last month, selling 19,725 units.
Mitsubishi Motors Philippines Corp. ranked second with a 17.20-percent market share, followed by Nissan Philippines, Inc. at 4.27 percent, Suzuki Philippines, Inc. at 4.80 percent, and Ford Motor Company Philippines, Inc. at 4.60 percent
“We are encouraged by the industry’s sustained growth, especially with commercial vehicles driving overall performance. This reaffirms the significant role of the automotive sector in supporting the country’s economic activities,” Campi President Rommel Gutierrez said in a statement.
Though short of industry expectations, vehicle sales in the Philippines reached a new record high in 2024, totaling 467,252 units.
The industry posted sales volume of 429,807 units in 2023, following 352,596 in 2022, 268,488 in 2021, 223,793 in 2020, and 369,941 in 2019.
