Philippine New Car Sales Up 42 Percent In January 2023; Honda Re-Enters Top 5 The Philippine automotive industry continues its strong recovery by selling 29,499 units last January. This is 42.
1 percent higher than January 2022’s 20,785 units. However, on a month-on-month basis, the tally is 20.8 percent lower to December’s 37,259 units.
The Commercial Vehicle segment continues to dominate the local industry, accounting for 74.5 percent of all vehicles sold . This is a 46.8 percent jump from a year ago. On the other hand, Passenger Car cornered a 25.4 percent share of new vehicle sales with 7,506 units sold. This is 29.8 percent higher than last year.
For January 2023, Toyota Motor Philippines has already taken a huge lead, by carving out a 45.42 percent market share . They’re followed by Mitsubishi Motors Philippines in second with 5,030 units sold. In third is Ford Motor Philippines with 2,107 units, while in fourth is Nissan with 1,878 units. Honda Cars Philippines was the resurgent brand selling 1,639 units in fifth, overtaking Suzuki who has to settle in sixth with 1,476 units. In seventh is Isuzu Philippines, while in eighth is Hyundai Motor Philippines. Geely is now in ninth, with Kia completing the Top 10.
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