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Tuesday, July 20, 2021

Toyota Closes In On A 50 Percent Market Share In The Philippines As Industry Sales Rise 44.8 Percent In H1 2021


The Chamber of Automotive Manufacturers of the Philippines or CAMPI continues to report tepid sales with a “measly” 2.2 percent month-on-month growth in June versus May’s 22,062-unit figure.

That said, June’s 22,550 units sold is still a 44.8 percent jump compared to the same month last year (15,578 units). Compared to 2019 or pre-pandemic levels, it still remains more than 50 percent lower (in June 2019, CAMPI members already sold 31,950 units).

Commercial vehicles (CVs) now account for two-thirds of total sales of CAMPI members. CV sales went up 39.6 percent to 15,168 units in June compared to the same month in 2020. It’s also a 4.9 percent increase compared to May 2021.

Meanwhile, Passenger Car (PC) sales went up 56.7 percent to 7,382 units compared with last year. It is, however, a 2.86 percent decline compared to May 2021.

Year-to-date, vehicle sales are up 56.1 percent to 132,767 units from 85,041 units in the same six months last year. CV sales increased 47.8 percent to 90,361 units, while PC sales rose 77.3 percent to 42,406 units.

In terms of brands, Toyota Motor Philippines continues to dominate the market with 11,242 units sold, or a 49.85 percent market share. Mitsubishi Motors Philippines followed with 2,933 units sold, with a 13.01 percent market share, while Suzuki Philippines, Inc. sold 1,795 units, with a 7.96 percent market share.

Despite promising signs of recovery, CAMPI President Rommel Gutierrez warns that the industry’s first half 2021 performance is a “respite amid the less buoyant consumer outlook for big-ticket items for the second quarter of this year according to a government survey.”

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