Despite being a banner year, new car sales failed to reach industry targets in 2024 based on the year-end joint report of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA).
New car sales hit 467,252 units in 2024—an 8.7 percent increase over 2023’s 429,807 units. Although it marks the best full year sales result for the Philippine auto industry ever, it fell short of even CAMPI’s conservative target of 468,300 units which it set in mid-2024.
In December, a total of 42,044 new vehicles were sold—a 7.4 percent increase over 2023’s 39,153. This is also 2.8 percent higher month-on-month compared to November 2024 (31,062 units).
The commercial vehicle segment (CV) dominated the market as it accounted for 74.15 percent of all new cars sold last year. In total, they sold 346,482 units in 2024—8.1 percent higher than 2023’s 320,543 units. Meanwhile, the passenger car (PC) segment posted a 10 percent increase in sales last year. CAMPI-TMA members sold 120,770 units in 2024—higher than 2023’s 109,264 units.
December CV sales reached 31,919 units—8 percent higher than 2023’s figures and 2.8 percent better than November 2024’s. PC sales hit 10,125 units which is 5 percent higher than December 2023 and 2.9 percent higher than November 2024.
Chinese brands sold 24,464 units during the entirety of 2024. They are led by MG with 9,016 units followed by Foton with 3,579 and GAC with 3,207. In total, they have managed to capture a 5.25 percent of the total market in 2024.
Here is how each brand did last 2024. Note that in July, due to a change in distributorship, Geely withdrew its CAMPI membership, while Ferrari joined. Brands such as BAIC, BYD, Chevrolet, Subaru, and Volvo as well as niche brands such as Audi, Lynk & Co, Mini, Porsche, are not members of CAMPI nor TMA, and are therefore not part of this report.
Philippine New Car Sales 2024
- Toyota – 218,019 (46.66%)
- Mitsubishi – 89,124 (19.07%)
- Ford – 27,997 (5.99%)
- Nissan – 26,774 (5.73%)
- Suzuki – 20,371 (4.36%)
- Isuzu – 17,641 (3.78%)
- Honda – 15,518 (3.32%)
- Hyundai – 12,023 (2.57%)
- MG – 9,016 (1.93%)
- Kia – 6,692 (1.43%)
- Foton – 3,579 (0.77%)
- GAC – 3,207 (0.69%)
- Chery – 2,773 (0.59%)
- Hino – 2,344 (0.50%)
- Mazda – 2,229 (0.48%)
- Geely – 2,128 (0.46%)
- Jetour – 1,702 (0.36%)
- Fuso – 1,351 (0.29%)
- Changan – 1,047 (0.22%)
- JMC – 1,012 (0.22%)
- BMW – 815 (0.17%)
- Mercedes-Benz – 751 (0.16%)
- Jaguar Land Rover – 345 (0.07%)
- Chrysler Jeep Dodge Ram – 263 (0.05%)
- Volkswagen – 228 (0.05%)
- Peugeot – 177 (0.04%)
- Terrafirma Motors – 83 (0.02%)
- Ferrari – 16 (0.00%)
- MAN Trucks – 15 (0.00%)
- IVECO / Daewoo Trucks – 7 (0.00%)
- Volkswagen Trucks & Buses – 5 (0.00%)
- Toyota – 63,007 (52.08%)
- Mitsubishi – 27,683 (22.88%)
- Suzuki – 9,552 (7.9%)
- Honda – 6,646 (5.49%)
- Nissan – 5,380 (4.45%)
- MG – 4,323 (3.57%)
- BMW – 815 (0.67%)
- Mercedes-Benz – 737 (0.61%)
- Kia – 593 (0.49%)
- Mazda – 486 (0.4%)
- Geely – 392 (0.32%)
- Ford – 305 (0.25%)
- Chrysler Jeep Dodge Ram – 263 (0.22%)
- Chery – 217 (0.18%)
- Changan – 180 (0.15%)
- GAC – 111 (0.09%)
- Volkswagen – 49 (0.04%)
- Ferrari – 16 (0.01%)
- Jaguar – 14 (0.01%)
- Hyundai – 3 (0.00%)
- Toyota – 155,012 (44.81%)
- Mitsubishi – 61,441 (17.76%)
- Ford – 27,692 (8.01%)
- Nissan – 21,394 (6.18%)
- Isuzu – 17,641 (5.1%)
- Hyundai – 12,020 (3.47%)
- Suzuki – 10,819 (3.13%)
- Honda – 8,872 (2.56%)
- Kia – 5,739 (1.66%)
- MG – 4,693 (1.36%)
- Foton – 3,579 (1.03%)
- GAC – 3,096 (0.9%)
- Chery – 2,556 (0.74%)
- Hino – 2,344 (0.68%)
- Mazda – 1,743 (0.5%)
- Geely – 1,736 (0.5%)
- Jetour – 1,503 (0.43%)
- Fuso – 1,351 (0.39%)
- JMC – 1,012 (0.29%)
- Changan – 867 (0.25%)
- Land Rover – 315 (0.09%)
- Volkswagen – 179 (0.05%)
- Peugeot – 177 (0.05%)
- Terrafirma Motors – 83 (0.02%)
- Chrysler Dodge Jeep Ram – 16 (0.00%)
- MAN Trucks – 15 (0.00%)
- IVECO / Daewoo Trucks – 7 (0.00%)
- Volkswagen Trucks & Buses – 5 (0.00%)
- Terrafirma Motors: +118.42%
- GAC: +65.05%
- Fuso: +34.97%
- Kia: +32.96%
- Hyundai: +31.69%
- Foton: 21.57%
- Mitsubishi: +13.72%
- Suzuki: +10.39%
- Toyota: +8.99%
- Isuzu: +0.19%
- Mazda: -0.09%
- Nissan: -1.33%
- Honda: -6.77%
- JMC: -7.16%
- Ford: -10.61%
- Hino: -12.41%
- Mercedes-Benz: -13.78%
- Volkswagen: -15.24%
- Jaguar Land Rover: -17.46%
- Chery: -22.97%
- BMW: -28.76%
- Peugeot: -34.44%
- Volkswagen Trucks &Buses: -37.5%
- Chrysler Dodge Jeep Ram: -42.45%
- MAN Trucks: -77.61%
- IVECO / Daeoo Trucks: -86.79%
no lexus? no subaru?
ReplyDeleteLexus is lumped together with Toyota. As for Subaru, you could have read the story first hehe.
DeleteHere is how each brand did last 2024. Note that in July, due to a change in distributorship, Geely withdrew its CAMPI membership, while Ferrari joined. Brands such as BAIC, BYD, Chevrolet, Subaru, and Volvo as well as niche brands such as Audi, Lynk & Co, Mini, Porsche, are not members of CAMPI nor TMA, and are therefore not part of this report.
DeleteBOBO LEARN TO REAd.
If byd is doing so well why not release sales figures. Just plain facts no pr or hyping up just plain numbers easy but apparently not.
ReplyDeleteGo to the offices of BYD Philippines and AC Mobility and complain there 🤣
DeleteA top-10 finish for Hyundai remains elusive despite a solid lineup (bring in the i10!). A top-10 finish for KIA is a pipe dream and it's their own fault (poor distribution, always brandishing GT-Line trims) for what is now looking like a low-volume, high markup strategy without the corresponding customer experience.
ReplyDeleteI think the Hyundai Motor Group (parent company of Hyundai and Kia) would have a better corporate partner to expand its market presence in the Philippines and rest of Southeast Asia, but however, the biggest obstacle is due to South Korean pride.
DeleteHyundai Philippines won't bring back the i10 as it'll be very expensive when it's imported from India 🤣 Good sales numbers of Stargazer,Custin,Staria and Santa Fe are keeping Hyundai alive in the Philippines
DeleteSales of Kia Sonet was very strong last year that's why Kia Philippines remained in 10th place.
Hyundae is top 6
DeleteFree trade agreement with SoKor for automobiles means we will be getting Hyundai and Kia directly from Korea
DeleteKia Philippines and Hyundai Philippines are already selling a bunch of made in South Korea vehicles for many years 🤣
DeleteDon't expect huge price drops as Hyundai executives in the Philippines prefer selling their vehicles in the Philippines at higher prices so they'll earn more profit from it 🤣🤣🤣
Yeah free trade with sokor will bring car tariffs from 5% to zero. Hyundae here competitively priced, its kia that overpriced by AC motors.
DeleteI am happy to see Kia having a 32.96% YoY increase with this report. Admittedly, ACMotors is not bringing in the right features of their cars for their pricing, but overall, the brand is underrated. Hopefully with the introduction of Kia Sonet, AC Motors realizes the potential they have in gaining more market share if they do things right by their customers.
ReplyDeleteI think AC Motors could try on distributing other car manufacturers here in the Philippines unless if one were to enter that market, but that kind of marketing could not make sense however.
DeleteDon't expect too much from Kia Philippines
ReplyDeleteSonet,Carnival and K2500 sales are gonna keep them alive
Seltos is already forgotten but still available so does 2 year old unsold units of overpriced Kia EV6
Kia Soluto sales isn't that high anymore despite Kia dealers giving 100,000 Peso cash discounts for it,
The only successful Kia model in the Philippines is the Pride, because it looked more like a European car too.
DeleteIf you want Japanese, buy a Toyota. But if you want American, buy a Ford.
ReplyDelete