Philippine Auto Industry Achieves Impressive Growth in 2024car i

The automotive sector in the Philippines expanded significantly in 2024, with 467,252 new vehicles joining the country’s roadways. This represents an 8.7% increase over the 429,807 units sold in 2023, demonstrating consistent demand despite economic uncertainties (GMA News, 2025). The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) forecasted a 9% growth rate, or around 468,000 units, indicating that the market met expectations (Manila Bulletin, 2025).

Increased Demand for Commercial and Passenger Vehicles

The commercial vehicle segment led sales, accounting for 74.15% of total units sold (346,482 new commercial vehicles registered). Meanwhile, passenger cars accounted for 25.85%, reaching 120,770 units (GMA News, 2024). Asian utility vehicles (AUVs) sold 6,829 units, with light commercial vehicles accounting for 24,099 units (Manila Bulletin, 2025).

Auto sales in December 2024 alone totaled 42,044 units, up 2.8% from November and 7.4% over the same period in 2023 (GMA News, 2024). This momentum reflects increasing customer confidence in the market.

Top Automakers in the Philippine Market

Toyota Motor Philippines Corp. maintained its dominance, accounting for 46.66% of total market sales, followed by Mitsubishi Motors Philippines Corp. with 19.07%. Ford Group Philippines owned 5.99%, with Nissan Philippines Inc. and Suzuki Philippines Inc. capturing 5.73% and 4.36%, respectively (Manila Bulletin, 2025).

Outlook for the Automotive Industry

Vehicle sales have steadily increased, reflecting the market’s resiliency and expanding demand for both personal and commercial cars. CAMPI President Rommel Gutierrez noted that the business is still strong, with significant expansion predicted until 2025 (GMA News, 2024). With sustained economic stability and government initiatives promoting sustainable transportation, the car industry is poised for additional growth.