last march, new car sales reach highest monthly figure since pandemic

New car sales continue their upward trajectory by recording 29,685-unit sales—the highest monthly figure since the start of the pandemic.

According to the joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), this is 43.4 percent up compared to the 20,702 units sold in March 2021, and up 22.1 percent from February 2022’s already impressive 24,304 units.

Passenger car sales remained flat (minus 0.5 percent) to 6,625 units from 6,661 units a year ago. Commercial vehicle sales, however, jumped 64.2 percent to 23,060 units from 14,041 units in the same month last year.

From January to March 2022, new car sales are up 6.3 percent to 74,754 units compared to 70,312 units in 2021.

Toyota Motor Philippines continues to lead the Philippine auto industry cornering a 49.8 percent year-to-date market share. So far, they’ve sold 37,230 units in the first three months of the year, up from 33,095 units a year ago. In March alone, they sold 15,110 units which is enough for a 50.9 percent hold of the market.

In second place is Mitsubishi Motors Philippines with a market share of 13,84 percent. It sold 10,346 units, down 12.2 percent from last year’s 11,788 units. In March, however, they’ve managed an uptick in sales—selling 3,888 units compared to February’s 3,504 units.

Nissan continues to be in third place selling 5,886 units or 13.2 percent higher from last year’s 5,198 units. This is enough for a 7.87 percent market share. In March, they moved 2,348 units—a 33.6 percent increase from February’s 1,757 units.

Ford Motor Philippines continues to be in fourth place with a 6.2 percent market share so far in 2022. Cumulatively, they’ve sold 4,634 units in the first three months of 2022 with 1,931 units sold in March alone.

With a 6.09 percent market share, Suzuki Philippines is in fifth place. They’ve sold 4,556 units from January to March 2022, a decline of 3 percent compared to last year’s figures.

The rest of the top ten are Isuzu Philippines in sixth (5.37 percent market share), Honda Cars Philippines in seventh (5.20 percent market share), Kia Philippines in eighth (1.48 percent market share), Foton Motor Philippines in ninth (1.15 percent market share), and Hino Motor Philippines in tenth (0.86 percent market share).

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