New vehicle sales down  by 8.7% in November

By Justine Irish D. Tabile, Reporter

NEW vehicle sales in 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 year ago.

Month on month, vehicle sales also declined by 6.7% from 40,014 units sold in October.

In November, passenger car sales dropped by 24.2% to 7,456 from 9,836 units sold in the same month in 2024. Month on month, sales slid by 8.57% from 8,155 units sold in October.

Meanwhile, sales of commercial vehicles, which accounted for four-fifths of November sales, dipped by 3.7% to 29,903 from 31,062 units a year ago. Month on month, sales declined by 6.1% from 31,859 units in October.

Within the commercial segment, sales of light commercial vehicles slid by 4.4% year on year to 21,139 units, while Asian utility vehicles (AUV) inched up by 0.4% to 7,921 units. On a monthly basis, light commercial 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 “steady market participation as brands continued to roll out new models and year-end promotions.”

“Commercial 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 statement on Thursday.

“The industry remains optimistic as manufacturers prepare for the traditional surge in consumer activity during the final month of the year,” he added.

For the January-to-November period, new vehicle sales dipped down by 1% to 420,776 units from 425,208 units a year ago.

The 11-month figure represents only 84.15% of the industry’s 500,000 sales target for the year.

Passenger car sales fell by 23.3% to 84,917 units in the first 11 months from 110,645 units in the same period last year.

Meanwhile, sales of commercial vehicles, which account for 79.82% of the total sales, grew by 6.8% to 335,859 units in the January-to-November period from 314,563 units a year ago.

“The double-digit drop in passenger car sales reflects tighter household budgets and shifting priorities,” said Reyes Tacandong & Co. Senior Adviser Jonathan L. Ravelas in a Viber message.

“High interest rates and inflation have made big-ticket purchases less attractive, while buyers lean toward more practical options like commercial vehicles,” he added.

However, 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 adaptability amid evolving market conditions.”

“The industry remains on a solid footing, supported by robust commercial 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 total industry sales and reflecting “rising consumer interest in cleaner and more efficient mobility options.”

Of the total, 2,648 were hybrid EVs, accounting for 69.01% of the total EV sales in November. The industry sold 869 units of plug-in hybrid EVs and 320 battery EVs.

In the January-to-November period, the industry sold 28,102 EVs, accounting for 6.68% of the total industry sales. These are comprised of 22,027 units of hybrid EVs, 4,261 battery EVs, and 1,814 plug-in hybrid EVs.

“CAMPI remains confident in the industry’s upward trajectory as manufacturers continue 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 private sector partners to sustain market growth, strengthen consumer confidence, and accelerate the adoption of innovative and energy-efficient vehicle technologies,” he added.

Meanwhile, Toyota Motor Philippines Corp. remained the market leader, with sales of 205,552 units in the January-to-November period, up 3.9% from 197,756 units a year 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 first 11 months from 81,401 units a year ago.

In third spot was Ford Motor Co. Phils., Inc., whose sales dropped 22.4% to 20,007 units with a market share of 4.75%.

Rounding out the top 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.