Top Japanese auto manufacturers Toyota Motor Corp. and Mitsubishi Motors Corp. are leading in the sale of automobiles in the Philippines, together accounting for 60 percent of 380,000 units sold so far this year, according to industry data obtained Wednesday.
The data from the Chamber of Automotive Manufacturers of the Philippines show Toyota Motors Philippines Corp. accounting for 43 percent of total sales from January through November, with 166,601 units sold by it during the period.
Mitsubishi Motors Philippines Corp. came in a distant second with a 17.55 percent market share, selling 66,704 units.
Ford Motor Company Philippines Inc. was in third place with an 8.42 percent share and 31,994 units sold, followed closely by Honda Cars Philippines Inc. with 7.05 percent and 26,277 units, Isuzu Philippines Corp. with 6.91 percent and 14,256 units.
With a total of 380,179 units of all brands sold in the Philippines so far this year, up from 325,467 in the same period last year, the country's auto market continues to grow, registering a 16 percent increase in units sold.
Rommel Guiterrez, the chamber's president, attributed the growth to "increased sales of major assemblers and distributors."
"Carrying the momentum from November sales, the outlook for December remains strong, driven by the good sales performance of key models from other brands," he said, while expressing confidence that the year-end industry target of 450,000 units sold will be met through competitive promotional support and marketing activities.