Philippines July. Toyota holding 44.2% in a market soaring 40.9%

Philippines Vehicles Market

Philippines Vehicles Market in July boomed at 40.9% with 42.989 sales. Toyota soared 68.6% – holding a huge 44.2% of market share – while Suzuki and Subaru were the best Top 10 brands, booming over 150%. Hyundai lost the podium, scoring a disappointing -34.9%.

 

Economic Environment

Philippines’ economy slowed in the second quarter as fixed investment fell abruptly; the delayed budget and midterm elections spending ban dragged on government consumption; and consumer spending weakened. In contrast, the external sector bolstered growth in Q2 despite lackluster export growth as imports stagnated. Turning to Q3, July’s rebound in the manufacturing PMI marks a promising start, while a recovery in public spending on implementation of the 2019 budget should further buttress growth. That said, trade tensions and an uncertain global outlook will likely keep the electronics sector, and in turn exports, suppressed.

 

Market Trend

Philippines vehicles market in the last decade boomed resulting one of the top 3 fastest growing markets in the World. Recently, total vehicles sales grew up from 170.827 in the 2012 to a record of 483.734 in the 2017. Then the winds changed.

In the 2018, following years or records, the introduction of a new tax (called “TRAIN”) pushed up the price for all vehicles (and fuel), but pickups and van, hitting the market and altering the competitive landscape. Indeed, after thirteen consecutive years of growth, sales fell down 11.8%, ending with registrations at 413.216.

The 2019 started with January’s performance keeping the previous year’s negative trend, with registrations at 29.260, losing 13.5%. In February the market embarked on a positive pathway – improving (+5.8%) – and surging 15.3% in March with 36.093 units sold. In April sales were stable, with 28.401 units (+1.8%), keeping the same trend in May with 34.163 units sold. In June, the market decelerated by 2.2% with 31.684 sales.

In July, registrations soared 40.9% with 42.989 sales, leading year-to-date figures at 233.059 (+6.7%).

 

Market Outlook

After a series of all-time records during the last decade, the Philippines’ market has now embarked on a negative path. However, the market is seen to be moderately positive during the 2019-2025 period of time. Being interested to know more, give a look at this updated research. Clicking on the picture, you can see contents.

 

Competitive Arena

Brand-wise, the year-to-date market leader was Toyota which sold 92.137 vehicles (+9.7%) with market share at 39.5%.

In second place Mitsubishi with 37.856 sales (-2%) and in third Nissan with 26.003 (+66.1%).

In fourth place Hyundai with 19.790 (+2.9%) followed by Suzuki with 13.803 (+29.9%), Ford with 13.782 (-6.2%), Honda with 11.891 (-13.6%), Isuzu with 7.185 (-23.5%), Kia with 2.713 (+71.1%) and Subaru with 1.593 (+9.3%).

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Rank 2019Rank 2018BrandSales YTD July 2019Sales July 2019'+/- YTD 2019'+/- Jul 2019Share YTD July 2019Share July 2019
11Toyota92.13719.0119,7%68,6%39,5%44,2%
22Mitsubishi37.8567.229-2,0%35,9%16,2%16,8%
34Nissan26.0034.94366,1%62,5%11,2%11,5%
43Hyundai19.7902.1362,9%-34,9%8,5%5,0%
57Suzuki13.8032.98629,9%155,9%5,9%6,9%
65Ford13.7822.555-6,2%17,4%5,9%5,9%
76Honda11.8911.963-13,6%12,1%5,1%4,6%
88Isuzu7.185358-23,5%-72,6%3,1%0,8%
912Kia2.71331771,1%34,9%1,2%0,7%
1011Subaru1.593377-9,3%158,2%0,7%0,9%
119Chevrolet1.584564-32,4%163,6%0,7%1,3%
1210Mazda1.31733-35,1%-83,4%0,6%0,1%
1315Mercedes5932566,1%383,0%0,3%0,6%
1418Audi52215122,1%-21,1%0,2%0,0%
1513Volkswagen36483-56,6%151,5%0,2%0,2%
1620Tata21928-12,0%-3,4%0,1%0,1%
1722Baic1845,1%-100,0%0,1%0,0%
1832MG18222198,4%633,3%0,1%0,1%
1817BMW18211-45,2%-52,2%0,1%0,0%
1914JAC17616-63,3%-56,8%0,1%0,0%
2016Lexus1417-62,1%-78,8%0,1%0,0%
2121Jeep1402540,0%177,8%0,1%0,1%
2235GAC Gonow138250,1%0,1%
2330Lifan8829,4%-100,0%0,0%0,0%
2423Peugeot81-39,1%-100,0%0,0%0,0%
2533Jinbei6986,5%-100,0%0,0%0,0%
2628Volvo681613,3%220,0%0,0%0,0%
2729Porsche6430,6%-100,0%0,0%0,0%
2824Mini6010-52,8%-47,4%0,0%0,0%
2927Land Rover51-34,6%-100,0%0,0%0,0%
3036Jaguar2847,4%-100,0%0,0%0,0%
3131SsangYong25--57,6%-100,0%0,0%0,0%
3225Haima17-88,2%-100,0%0,0%0,0%
3337Maserati833,3%-100,0%0,0%0,0%
3438Aston Martin53-66,7%0,0%0,0%

Rank 2019Rank 2018GroupSales YTD July 2019Sales July 2019'+/- YTD 2019'+/- Jul 2019Share YTD July 2019Share July 2019
11Toyota Group92.27819.0189,4%68,2%39,6%44,2%
22Renault Nissan Alliance63.85912.17217,6%45,6%27,4%28,3%
33Hyundai-Kia22.5032.4538,1%-30,2%9,7%5,7%
46Suzuki13.8032.98629,9%155,9%5,9%6,9%
54Ford Group13.7822.555-6,2%17,4%5,9%5,9%
65Honda Motor11.8911.963-13,6%12,1%5,1%4,6%
77Isuzu Motors7.185358-23,5%-72,6%3,1%0,8%
810Subaru1.593377-9,3%158,2%0,7%0,9%
98General Motors1.584564-32,4%163,6%0,7%1,3%
109Mazda1.31733-35,1%-83,4%0,6%0,1%

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