Major automotive brands Philippines 2023, by number of units sold

Among vehicle brands, Toyota was the leading automotive company in the Philippines, selling about 198 thousand units in 2023. This was followed by Mitsubishi and Ford, with 78 thousand and 31 thousand units sold, respectively. 

Vehicle ownership

In the Philippines, commuters can spend a minimum of one and a half to two hours on the road to get anywhere in its densely populated cities. With public transportation pouring with passengers, especially during rush hour, several consumers opt to purchase their own vehicle despite the traffic congestion. In 2023, about 109 thousand passenger vehicles were sold, with SUVs and medium cars dominating the market.

Consumer behavior 

Metro Manila is a business hub within the Philippines, where people from the provinces relocate to find a better life. It is a highly dense location, and the lack of road infrastructure is one of the daily challenges every commuter and pedestrian faces. For most households, getting a car is one of the easiest decisions to make if it provides comfort. As of January 2023, motor vehicle loans were the second most popular loan types granted by universal and commercial banks in the country.