Philippine’s Vehicle Market in 2022 grows in double digits (+26.1%), reporting 362,508 new sales and rising for the second year in a row. December rises for 10th consecutive month, reporting 38,072 new registrations (+21.5%).
Market Trend and Outlook
Philippine’s vehicle market in 2022 totaled 362,508 sales, a 26.1% increase from 2021 and the second consecutive yearly double-digit growth. The overall strong trend was sustained by a 10 month long rise culminating in December. The last month of the year, in fact, reported 38,072 sales and a 21.5% year-on-year surge in volume.
In the competitive arena, cumulative figures from 2022 report that the leader Toyota is up a huge 34.2%, followed by Mitsubishi (+41.7%), Ford (+23.5%), Nissan (+8.5%), Suzuki (+2.8%) and Honda (+9.8%).
Chinese manufacturers are fast growing with Geely up 52.4%, Foton +21.1% and Chery +147.2%.
Tables with sales figures
In the tables below we report sales for top 10 Brands and top 10 Models
