2024 Vehicle Sales of the Philippines

In 2024, vehicle sales in the Philippines increased by 8.7% from the previous year to 467,000 units (joint report by local automotive industry associations CAMPI and TMA). Furthermore, if we include the brands that are not affiliated with the abovementioned associations, it is possible that sales exceeded 500,000 units for the first time. Consumption is thought to have been stimulated by the stabilization of price rises, the reduction of policy interest rates, stable employment, and an increase in disposable income due to higher remittances from overseas Filipino workers.