PH auto manufacturers say 2023 unit sales could exceed 423K forecast

Despite a decline in November, the Chamber of Automotive Manufacturers Association of the Philippines Inc. (CAMPI) said Tuesday it is optimistic on exceeding its sales forecast for 2023.

A joint report by CAMPI and the Truck Manufacturers Association of the Philippines (TMA) showed that total new motor vehicle sales for November stood at 37,683 units, down 1.2% from 38,128 units in October, but up 7.6% from 35,037 units in November 2022.

This brought the year-to-date units sold to 390,654 units, up 23.9% from 315,337 units sold in the comparative period in 2022. It is also 92% of the 423,000 unit sales forecast for the year.

“(W)e already achieved 92% of our 2023 forecast in November; we may even exceed our sales forecast of 423,000 units if sales performance in the last three months is sustained,” CAMPI president Rommel Gutierrez said in an accompanying statement.

The biggest share of the sales in November was accounted for by commercial vehicles with 28,114 units, reflecting a 7.7% annual growth.

This was followed by light commercial vehicles with 21,427 units, passenger cars with 9,569 units, Asian utility vehicles with 5,609 units, light-duty trucks and buseTs with 649 units, medium-duty trucks and buses with 334 units, and heavy-duty trucks and buses with 95 units.

Toyota Motor Philippines Corp. recorded a 46.2% market share, backed by Mitsubishi Motors Philippines Corp. with 18.4%, Ford Motor Company Philippines Inc. with 7.3%, Nissan Philippines Inc. with 6.3%, and Suzuki Philippines Inc. with 4.3%.

Manufacturers earlier this year said they are optimistic about recording 395,000 unit sales in 2023 or a 10% to 15% growth from the 352,596 units sold in 2022.—RF, GMA Integrated News