According to a report, car sales in the Philippines rose 20 percent last year and nearly half of them are from Toyota Motor Philippines (TMP).
Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association (TMA) have been monitoring the vehicle market in the Philippines since 1995. In their latest report, there were 268,488 units sold in the Philippines last year.
Out of the said 2021 figures, 183,228 units are commercial vehicles and 85,260 units are passenger cars. This shows an 18.9 growth in commercial vehicles and a 22.4 percent growth in passenger cars.
As expected, Toyota Motor Philippines Corp. (TMP) is at the top. It was able to sell 129,667 units last year, giving them a growth of 29.6 percent from its 2020 performance. Interestingly, this number amounts to a 48.3 percent market share for Toyota in new car sales.
Next to Toyota is Mitsubishi Motors Philippines Corp. (MMPC). Its total 2021 sales remained flat at 37,548 units or a 13.98 percent share. While in third place is Nissan Philippines, Inc. (NPI) with 19,603 units sold last year, a 9.9 percent dip from 2020’s performance.
Despite the 20% increase in car sales last year, CAMPI and TMA said it is still 27 percent lower compared to pre-pandemic sales in 2019.
