By Justine Irish D. Tabile, Reporter
NEW vehicle sales within the Philippines continued to slump in November, amid a double-digit drop in sales of passenger cars, an industry report showed.
A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that 37,352 units were sold in November, falling by 8.7% from 40,898 units a 12 months ago.
Month on month, vehicle sales also declined by 6.7% from 40,014 units sold in October.
In November, passenger automotive sales dropped by 24.2% to 7,456 from 9,836 units sold in the identical month in 2024. Month on month, sales slid by 8.57% from 8,155 units sold in October.
Meanwhile, sales of economic vehicles, which accounted for four-fifths of November sales, dipped by 3.7% to 29,903 from 31,062 units a 12 months ago. Month on month, sales declined by 6.1% from 31,859 units in October.
Inside the industrial segment, sales of sunshine industrial vehicles slid by 4.4% 12 months on 12 months to 21,139 units, while Asian utility vehicles (AUV) inched up by 0.4% to 7,921 units. On a monthly basis, light industrial vehicles and AUV sales slipped 5.9% and 4.7%, respectively.
All truck segments saw a decline in November, with light-duty trucks and buses recording a 24.2% decrease in sales to 504 units, while sales of medium- and heavy-duty trucks fell by 8.8% and 43.2%, respectively.
Compared with October, sales of light-, medium-, and heavy-duty trucks decreased by 23.8%, 17.6%, and 36.4%, respectively.
CAMPI President Rommel R. Gutierrez said that November sales data reflected “regular market participation as brands continued to roll out latest models and year-end promotions.”
“Business vehicles contributed 29,903 units, maintaining their strong market presence, while passenger cars recorded 7,456 units, supported by ongoing demand for fuel-efficient and entry-level models,” he said in a press release on Thursday.
“The industry stays optimistic as manufacturers prepare for the normal surge in consumer activity through the final month of the 12 months,” he added.
For the January-to-November period, latest vehicle sales dipped down by 1% to 420,776 units from 425,208 units a 12 months ago.
The 11-month figure represents only 84.15% of the industry’s 500,000 sales goal for the 12 months.
Passenger automotive sales fell by 23.3% to 84,917 units in the primary 11 months from 110,645 units in the identical period last 12 months.
Meanwhile, sales of economic vehicles, which account for 79.82% of the whole sales, grew by 6.8% to 335,859 units within the January-to-November period from 314,563 units a 12 months ago.
“The double-digit drop in passenger automotive sales reflects tighter household budgets and shifting priorities,” said Reyes Tacandong & Co. Senior Adviser Jonathan L. Ravelas in a Viber message.
“High rates of interest and inflation have made big-ticket purchases less attractive, while buyers lean toward more practical options like industrial vehicles,” he added.
Nevertheless, Mr. Ravelas said that he expects a rebound in sales when “financing costs ease and consumer confidence improves.”
Despite the annual decline, Mr. Gutierrez said the sales data shows the industry’s “continued resilience and flexibility amid evolving market conditions.”
“The industry stays on a solid footing, supported by robust industrial vehicle demand and the accelerating shift toward electrified mobility,” he added.
The report also showed that 3,837 units of electrified vehicles (EVs) were sold last month, accounting for 10.27% of the whole industry sales and reflecting “rising consumer interest in cleaner and more efficient mobility options.”
Of the whole, 2,648 were hybrid EVs, accounting for 69.01% of the whole EV sales in November. The industry sold 869 units of plug-in hybrid EVs and 320 battery EVs.
Within the January-to-November period, the industry sold 28,102 EVs, accounting for six.68% of the whole industry sales. These are comprised of twenty-two,027 units of hybrid EVs, 4,261 battery EVs, and 1,814 plug-in hybrid EVs.
“CAMPI stays confident within the industry’s upward trajectory as manufacturers proceed to expand their product offerings, enhance supply availability, and support the country’s transition toward sustainable mobility,” Mr. Gutierrez said.
“The Chamber reaffirms its commitment to working closely with government and personal sector partners to sustain market growth, strengthen consumer confidence, and speed up the adoption of modern and energy-efficient vehicle technologies,” he added.
Meanwhile, Toyota Motor Philippines Corp. remained the market leader, with sales of 205,552 units within the January-to-November period, up 3.9% from 197,756 units a 12 months ago. It accounted for 48.85% of the market share.
Mitsubishi Motors Philippines Corp. had the second biggest market share at 18.83% despite posting a 2.6% dip in sales to 79,252 units in the primary 11 months from 81,401 units a 12 months ago.
In third spot was Ford Motor Co. Phils., Inc., whose sales dropped 22.4% to twenty,007 units with a market share of 4.75%.
Rounding out the highest five were Suzuki Phils., Inc. which saw a 7.9% increase in sales to 19,982 units, and Nissan Philippines, Inc., which saw a 21.6% decrease in sales to 19,225 units.