Toyota takes 48.3 % market share of Philippine auto sales
Updated on February 22 2024
For nearly 20 years, Toyota has dominated the local sales race. The last couple of years saw the country's best-selling brand take over 40% of all vehicle sales. But in 2021, Toyota took nearly 50% of all new car sales in the Philippines. The exact figure is 48.3 percent.
That means one in every two cars sold in the Philippines in 2021 was a Toyota. All in all, the company shifted 129,667 units over the past 12 months. For reference, the members of the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and Truck Manufacturers Association shifted 268,488 units in 2021. The company's top-selling model was none other than the Vios.
So what automaker came in second place? That would be Mitsubishi Motors Philippines with a market share of 13.98 percent. Mitsubishi's total sales for 2021 was 37,548 with the Mirage, L300, and Xpander models continuing to be the driving forces for the company. MMPC also sold 4,065 units last month.
Third overall might come as a surprise for some. Taking the final podium spot was the Ford Motor Company. Despite having a limited number of offerings, those models sold strong enough to overcome that challenge. Ford took 7.45 percent of the country's local market share which is good for 20,005 units. It seems that Ford's gamble to discontinue its sedans and hatchbacks to focus on pick-ups and SUVs paid off. Their current top-sellers are the Ranger, Territory, and Everest.
Nissan missed out on the top three by just a few units. They managed to sell 19,603 units, just 402 behind Ford. Nissan's sales were boosted by models such as the Navara, Terra, and NV350. But the gap between fourth and fifth place is even tighter. Fifth spot went to Suzuki with 19,393 sold in 2021. They just needed 210 units to pass Nissan in the local sales race.
All in all, 2021 proved to be a solid recovery year for the Philippine automotive industry. Compared to 2020 figures, last year's sales were up by 20 percent. Per CAMPI figures, 85,260 passenger cars were sold in 2021, while 183,228 commercial vehicles were purchased during the same period. Of course, it will take a while for the industry to recover. At 268,488 units, it's still far away from the peak of over 400,000 vehicles back in 2019.
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