THE Philippine automotive industry is on the brink of making history, with total vehicle sales in 2024 reaching 486,206 units. Analysts predict this number will likely exceed 500,000 units once final reports are tallied, including figures from new entrants like Chinese as well as trucks and bus manufacturers. This would be the first time the country's automotive sales have crossed the half-million mark in a single year, highlighting the market's resilience and evolving dynamics.
According to data from the Philippine Automotive Dealers Association (PADA), sales were buoyed by strong performances from established giants such as Toyota, Mitsubishi, Ford, Nissan and Suzuki. Emerging competitors like MG also made notable contributions. Here's how the top 10 automotive brands fared in 2024.
Toyota maintained its commanding lead with 218,019 units sold, capturing an impressive 44.84-percent market share. The brand's lineup was led by popular models like the Hilux, Fortuner and Vios, while its hybrid models, including the Corolla Cross Hybrid and RAV4 Hybrid, showed Toyota's growing focus on sustainability. Toyota's vast dealership network, dependable after-sales service, and effective promotions kept it firmly at the top.
Mitsubishi followed with 90,475 units sold, taking 18.61 percent of the market. This marked a 14.7 percent increase from the previous year. Mitsubishi's success was driven by the Xpander MPV and the Strada pickup, appealing to both families and businesses. The brand's competitive financing deals and strategic marketing expanded its reach in both urban and rural markets.
In third place, Ford sold 27,997 units, accounting for a 5.76-percent market share. The Ford Ranger dominated the midsize pickup segment, while the Everest SUV remained a go-to for families seeking a reliable, comfortable ride. Despite growing competition, Ford managed an 8.2-pecent growth by focusing on its strengths in pickups and SUVs.
Nissan recorded 26,774 units, capturing a 5.51-percent market share with a 7.1-percent year-on-year growth. The Terra SUV and Navara pickup were central to its success. Nissan's focus on advanced safety features, including Nissan Intelligent Mobility, resonated with practical-minded buyers.
Suzuki secured fifth place with 20,371 units, achieving a 4.19-percent market share. The brand's small, efficient models like the Ertiga, S-Presso and Celerio attracted budget-conscious city dwellers. Suzuki's growing dealership network and focus on affordability allowed it to maintain a strong presence in the entry-level segment.
Isuzu sold 17,641 units, representing 3.63-percent of the market. Known for reliability, Isuzu dominated the commercial vehicle segment with the D-Max pickup and N-Series trucks, catering to logistics and transport needs. Consistent demand from business sectors and strong after-sales support cemented its role as a dependable choice.
Honda posted 15,518 units, taking 3.19-percent of the market with a 12.7-percent increase over last year. Popular models like the City, BR-V, and hybrids like the HR-V e:HEV and CR-V Hybrid attracted eco-conscious and tech-savvy buyers. Honda's emphasis on safety and efficiency kept it competitive in a crowded market.
Hyundai sold 12,023 units, securing a 2.47-percent market share and posting a 10.3-percent growth. The Stargazer MPV and Creta crossover were hits among Filipino families, while the Tucson saw renewed interest, helping Hyundai strengthen its position.
MG continued its rise with 7,393 units, accounting for 1.52 percent of the market — a 22.4-percent increase from 2023. The MG ZS and MG HS crossovers were well-received, especially among younger buyers looking for style and value. MG's aggressive pricing strategy and partnerships with local dealers boosted its visibility.
Rounding out the top ten, Kia sold 6,692 units, representing 1.38 percent of the market. Kia's strong performance came from models like the Stonic, Soluto, and Sorento, which appealed to both young professionals and families. The brand's competitive pricing and updated designs allowed it to capture a loyal customer base in the highly competitive market.
The Philippine automotive market grew by 9.8 percent year-on-year, driven by a stronger economy, new infrastructure projects, and accessible financing options. The influx of Chinese brands like GAC, BYD, and Chery diversified the market, offering consumers more choices at competitive prices. With these brands yet to report their full-year figures, the industry is poised to cross the 500,000-unit threshold — a historic milestone.
For 2025, the market is gearing up for more growth, particularly in hybrids and electric vehicles as consumer preferences shift toward sustainability. The continued rise of pickups and SUVs, alongside the entry of more Chinese brands, promises to keep competition fierce. Surpassing 500,000 units in 2024 signals an exciting new chapter for the Philippine automotive industry, setting the stage for even bigger achievements in the years to come.