MANILA – Year-on-year sales of automotive vehicles in September 2024 increased by 2.4 percent to 39,542 units from 38,628 units in the same month in 2023, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Wednesday.
Passenger car sales fueled the growth last month, selling 10,438 units, which is 9.2 percent higher than the 9,558 units sold in September last year.
Commercial vehicle sales had a flat growth of 0.1 percent to 29,104 units from 29,070 units in the same comparable period.
Month-on-month sales in September this year inched up by 1 percent from 39,155 units sold in August.
“The increase can be attributed to new stock arrivals and improved promotions from the brands,” CAMPI president Rommel Gutierrez said in a statement.
He said there were no new model releases last month as most vehicle companies target to launch them in the upcoming 9th Philippine International Motor Show from Oct. 24 to 27.
Meanwhile, total industry sales from January to September this year rose 9.4 percent to 344,307 units from 314,843 units in the same period a year ago.
Passenger cars remained the main driver of growth, with sales rising by 13.4 percent to 90,765 in the first nine months of the year from 80,009 units sold in the same period in the previous year.
In terms of volume, commercial vehicle segment delivered the largest chunk, with sales of 253,542 units for the first three quarters, 8 percent higher than the 234,834 units sold in the same period in 2023.
This year, the industry has a conservative target of 468,300 units, but Gutierrez said industry players are optimistic to hit the 500,000 mark at the end 2024. (PNA)
