Automotive sales in the Philippines hit a record 467,252 units in 2024, an 8.7% increase from 2023, but fell short of the industry target of 468,300 units, according to the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi).
Campi President Rommel Gutierrez attributed the growth to strong demand across passenger and commercial vehicle segments, with the industry optimistic about sustaining momentum into 2025.
Toyota Motor Philippines Corp. retained its dominant market position with 46.66% of total sales, followed by Mitsubishi Motors and Ford Philippines.
December capped the year with 42,044 units sold, marking a 7.4% year-on-year increase. Despite robust sales, the industry fell short of its goal to reach 500,000 units by year-end 2024.
Source: PhilNews24 | January 15, 2025
