Philippines 2017. Vehicles market hit the 5th record in a row

Philippines Vehicles Market 2017

Philippines Vehicles Market in the 2017 hit the fifth all time record in a row, just before the Tax Reform, which has introduced higher duties on vehicles and fuel. The market grew near 500.000 units with Toyota leader ahead of Mitsubishi and Hyundai.

Philippines growth in economic activity slowed somewhat in the fourth quarter of 2017, according to the latest indicators. Retail sales expanded annually in both October and November, but at a decelerating pace. Moreover, after October’s robust rebound, annual growth in exports eased significantly in the following month.

On 19 December, President Duterte signed into law the Tax Reform for Acceleration and Inclusion (TRAIN), which came into effect at the beginning of 2018. The TRAIN entails lower personal income tax rates for most of the population; only the top rate increased from 32% to 35%. The package also includes higher duties on cars, fuel and sugary drinks, which makes the revenue impact of the reform uncertain.

Philippines vehicles market in the last decade boomed resulting one of the top 3 fastest growing market in the World. Recently, total vehicles sales grew up from 170.827 in the 2012 to a record of 483.734 in the 2017 and a new record is projected for the end of the 2017, not far from the half million level. In the 2018 the market is actually foreseen at a new hit, but the Government has anticipated to the automotive industry the intention to introduce new duties, from January, with immediate effects on final vehicles price.

 Sales 2012Sales 2013Sales 2014Sales 2015Sales 2016Sales 2017Sales 2018 e
 2012 Var2013 Var2014 Var2015 Var2016 Var2017 Var2018 var e

The market is concentrated in the hands of Japanese brands, while Hyundai is progressively taking space. In the full year 2017, the market leader, Toyota sold  182.677 vehicles (+15.1%) with market share at 37.5%.

In second place, Mitsubishi with 65.859 (Mitsubishi Fuso not included) sales (+17.8%) and in third Hyundai with 37.678 (+11.8%).

In fourth place Ford with 36.714 (+9.0%) followed by Honda with 31.758 (+36.9%) and Isuzu with 30.187 (+10.3%).

At model-wise, the best selling car was the Toyota Fortuner with 39.680 sales (+39.0%) followed by the Toyota Vios with 36.734 (+1.3%) and the Toyota Innova with 24.434 (+34.7%).

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Research, Consulting, Data

F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2022. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.  See details within Philippines Store

Rank 2017Rank 2016BrandSales 2017Sales 2016Variation 2017Share 2017Share 2016

Rank 2017Rank 2016 Sales 2017Sales 2016Variation 2017
12Toyota Fortuner39.68028.54939,0%
21Toyota Vios36.73436.2561,3%
35Toyota Innova24.43418.13734,7%
43Toyota Hiace21.17819.9136,4%
512Mitsubishi Montero Sport19.91710.76885,0%
64Toyota Wigo19.29518.4304,7%
711Hyundai Accent16.45412.36033,1%
86Toyota Avanza15.46313.46614,8%
910Toyota Hilux14.68812.40518,4%
108Isuzu MU-X13.15712.6574,0%