Driving past history: PH car sales near 500,000 in 2024
THE Philippine automotive industry is on the brink of making history, with total vehicle sales in 2024 reaching 486,206 units. Analysts predict this number will likely exceed 500,000 units once final reports are tallied, including figures from new entrants like Chinese as well as trucks and bus manufacturers. This would be the first time the country's automotive sales have crossed the half-million mark in a single year, highlighting the market's resilience and evolving dynamics.
According to data from the Philippine Automotive Dealers Association (PADA), sales were buoyed by strong performances from established giants such as Toyota, Mitsubishi, Ford, Nissan and Suzuki. Emerging competitors like MG also made notable contributions. Here's how the top 10 automotive brands fared in 2024.
Toyota maintained its commanding lead with 218,019 units sold, capturing an impressive 44.84-percent market share. The brand's lineup was led by popular models like the Hilux, Fortuner and Vios, while its hybrid models, including the Corolla Cross Hybrid and RAV4 Hybrid, showed Toyota's growing focus on sustainability. Toyota's vast dealership network, dependable after-sales service, and effective promotions kept it firmly at the top.
Mitsubishi followed with 90,475 units sold, taking 18.61 percent of the market. This marked a 14.7 percent increase from the previous year. Mitsubishi's success was driven by the Xpander MPV and the Strada pickup, appealing to both families and businesses. The brand's competitive financing deals and strategic marketing expanded its reach in both urban and rural markets.
In third place, Ford sold 27,997 units, accounting for a 5.76-percent market share. The Ford Ranger dominated the midsize pickup segment, while the Everest SUV remained a go-to for families seeking a reliable, comfortable ride. Despite growing competition, Ford managed an 8.2-pecent growth by focusing on its strengths in pickups and SUVs.
Nissan recorded 26,774 units, capturing a 5.51-percent market share with a 7.1-percent year-on-year growth. The Terra SUV and Navara pickup were central to its success. Nissan's focus on advanced safety features, including Nissan Intelligent Mobility,