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Friday, August 20, 2021

Toyota Breaches 50 Percent Market Share In The Philippines


The Chamber of Automotive Manufacturers of the Philippines or CAMPI saw sales decrease 4.7 percent in July versus June 2021. This is based on the joint report CAMPI has released together with the Truck Manufacturers Association or TMA. That said, year-to-date (YTD) sales are still 46.1 percent higher than the first seven months last year. These results echo the performance of vehicle importers.

For July, total industry sales reached only 21,498 units compared to 22,550 units in June. Passenger Car sales only reached 7,102 units—3.8 percent lower compared to June’s 7,382 units. The same can be said with Light Commercial Vehicles which declined 10.9 percent to 10,493 units in July compared to 11,774 units in June.

Commercial Vehicle sales also decreased by 5.1 percent to 14,396 units from 15,168 last June. Likewise, sales of trucks and buses (Category IV) declined 7.6 percent with only 279 units sold from 302 units the previous month. It is also 7.9 percent lower than the 303 units sold in July 2020.

In July, Toyota Motor Philippines breached the 50 percent market share mark with 10,763 units sold, followed by Mitsubishi Motors Philippines with 2,646 units (12.31 percent) and Suzuki Philippines with 1,648 units (7.67 percent).

YTD, Toyota holds the dominant market position with 74,521 units sold in the first seven months of 2021. They are followed by Mitsubishi with 22,504 and Suzuki with 11,635 units.

Despite the DTI ruling in favor of dropping the safeguard bond on imported cars and light commercial vehicles, CAMPI foresees that August will be challenging due to the tighter community quarantines.

1 comment:

  1. Bsides battle tested reliability, toyota advantage s they hav a unfied dealership pricing all over ph. Other brand charge aditonal freight n handling fee in der vsyas n mndnao dealerships ranging 50k-100k. Rsult s toyota also has price advantage in vsyas n mndnao. Der s geely dlership in vsyas ho charge a ridicoulous 70k freight, n isuzu dlrship in mndnnao ho charge skyhigh 100k freight...it surely turn off prospectiv buyers

    ReplyDelete

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