The Toyota Raize lands directly at #8 in the Philippines.
Discover over 25 years of Philippines Historical Data here.
The Filipino new vehicle market soars 26.6% year-on-year in 2022 to 372,083, albeit still below the 410,187 units of pre-pandemic 2019. This market is expected to grow between 15-20% this year with an improved economic outlook and stock shortage being partially resolved. Sedans and hatchbacks sell 88,428 units for a weak 23.7% market share while commercial vehicles (SUVs, MPVs, pick-ups, crossovers, trucks, and buses) hold a record 76.3% share thanks to 283,837 sales.
Toyota (+34.2%) once again tightens its grip on the market with a record 46.6% share. It has improved consistently since 2018 when it held 37.9% of the market. Mitsubishi (+41.7%) also outpaces the market to 14.3% share, followed like in 2021 by Ford (+23.5%), Nissan (+8.3%) and Suzuki (+2.8%) all seeing market share declines. Isuzu (+22.3%) and Honda (+9.8%) also underperform, making sure the Top 7 is unchanged on 2021. Geely (+52.4%) scores the largest year-on-year gain in the Top 10 and advances two spots to #8, now outselling MG (+39.7%) to lead the Chinese charge. Kia (+33.7%) also shines at #10 while Chery (re)appears directly at #12. Changan (+220.8%) and Peugeot (+285.1%) stun below. Notice also Hyundai (-70.7%) cratering as it saw a restart of its local distributorship.
The Toyota Vios (-1.8%) sees its sales thaw and its market share fall from 11.9% to 9.3% but it remains by far the best-selling model in the country. It is the 14th time in the past 15 years that the Vios is #1 in the Philippines, only missing out in 2017 when the Toyota Fortuner was #1. Toyota places a record 8 models in the Top 10 this year. The Hilux (+29.4%), Innova (+33.9%) and Fortuner (+30.4%) round out the Top 4, while the Rush (+18.4%), Wigo (-18.2%) and Hiace (+19.9%) are weaker. The Raize lands directly at #8 overall with 3.6% of the market. The only non-Toyota models in the Top 10 are the Mitsubishi Xpander (+43.8%) lodging the biggest uptick among the 10 best-sellers and the Ford Ranger (+24.1%) at #10.
Previous year: Philippines Full Year 2021: Toyota monopolises Top 6 in market up 18.6%
Two years ago: Philippines Full Year 2020: Sales down -40.3%, Toyota improves share, Geely up
Full Year 2022 Top 40 all brands and Top 18 models vs. Full Year 2021 figures below.
