The Philippine automotive market experienced strong growth in 2024, with total sales reaching 425,208 units by the end of November. Toyota remains the top seller, while Suzuki made a significant entry into the Top 5. Passenger car sales increased by 11% to 110,645 units, while commercial vehicle sales rose by 8.1% to 314,563 units. The Asian Utility Vehicle (AUV) segment showed particularly impressive growth, with a 37.3% increase in year-to-date sales.
AS expected, Toyota looks once again to run away with the top plum as No. 1, but with Suzuki barging into the Top 5 in the 2024 sales derby.
Most likely, as a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association showed a year-to-date sales reaching 425,208 units byBoth groups said this growth is reflected in the market share distribution, where passenger cars accounted for 26.02 percent of the market with 110,645 units sold, an 11.0-percent rise from the previous year.
But commercial vehicles continued their strong performance with 31,062 units sold in November, a 3.7-percent MoM increase and a significant 10.5-percent rise from the same month last year. Light Commercial Vehicles also performed well, with YTD sales of 229,313 units, a modest 1.4-percent increase from the previous year, and November sales of 22,115 units, up by 1.4 percent MoM and 3.2 percent year-over-year.
Automotive Sales Philippine Market Toyota Suzuki Commercial Vehicles Passenger Cars AUV Segment
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