Philippines’ Ownership Volume of Motor Vehicles

By the end of 2022, ownership scale of automobiles in the Philippines surpassed 5.4 million units, an increase of nearly 500,000 units compared to the same period of the previous year. Looking at results by vehicle type, although trucks and trailers declined, MUVs rose to 2.58 million units and SUVs to 965,000 units, becoming the main drivers of the overall market. Passenger cars and buses increased as well, going up to 1.31 million units and 33,000 units respectively. Meanwhile motorcycle and tricycle ownership expanded to 8.42 million units and 44,000 units respectively.

The vehicle ownership rate was 48 units / 1,000 people for automobiles and 75 units / 1,000 people for motorcycles and tricycles, remaining at a low level.