PH auto industry sells 42 percent more cars in January 2023 

Still shaking off the cobwebs from the economic slump brought about by the pandemic, the Philippine auto industry is nevertheless fighting to get back, rallying with a significant increase in new car sales for the first 30 days of 2023. 

As of December 2022, Toyota Motor Philippines reported that its sales have surpassed pre-pandemic levels 

Data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that 29,499 new cars went to customers' hands in January 2023. This represents a rise of 42.1 percent compared to the 20,765 units sold in the same period last year.  

Leading these figures is the commercial vehicle (CV) segment which posted sales of 21,993 units, an improvement from the previous 14,981 units sold for a growth of 46.8 percent. This was followed by the light commercial vehicle (LCV) category bringing sales of 16,757 units, a jump of 40.9 percent from its previous figure of 11,893 new units sold. 

Honda Cars Philippines returns to fighting form as it retakes its place among the top five brands

There were also more new passenger cars sold totaling 7,506 units, a 29.8-percent jump from the previous 5,784 units. Meanwhile, Asian utility vehicles reportedly had the biggest increase in terms of sales, bringing 4,587 units sold compared to 2,452 in January 2022, an improvement of 87.1 percent.

However, the seemingly impressive numbers still pale in comparison to sales for December 2022, which reached 37,259 new units sold. The last month of the year is typically the highest in terms of sales. 

As for which brands were the top performers for 2022, here are the five leading automakers and their respective sales figures, dominated by Japanese brands: 

• Toyota (13,428 units)
• Mitsubishi (5,030 units)
• Ford (2,107 units)
• Nissan (1,878 units)
• Honda (1,639 units) 

These are followed by a mix of Japanese, Korean, and Chinese brands, as Suzuki, Isuzu, Hyundai, Geely, and Kia round up the top 10.  

“We have seen the trajectory of sales growing last year. In fact, January was a really good indicator of what is to come this year,” said CAMPI president Rommel Gutierrez, adding that local automotive brands are preparing for a full recovery this year with a projected sales growth of 15 percent.       

Keep an eye on industry developments at Philkotse.com.