Philippines Full Year 2018: Toyota leads, Nissan up 39.8% in first market decline since 2004

The Toyota Vios climbs back to #1 for the 10th time in the past 11 years.

Consult close to 25 years of Philippines Historical Data here.

This article has been updated with the Top 195 All-models.

It had to happen at one point: after a staggering 13 consecutive years of growth sending the market from 88.074 units in 2004 to an 8th consecutive record volume at 473.943 in 2017, new vehicle sales in the Philippines are down a painful 15.2% to 401.803 units in 2018. This is only the third time in history that the Filipino market surpasses the 400.000 annual unit-benchmark alongside 2016 (404.051). The main reason behind this year’s historical drop is the implementation in January of the Tax Reform for Acceleration and Inclusion (TRAIN) resulting in higher prices for most vehicles on sale in the country, notably premium ones. Commercial vehicles – in this market composed of SUVs, pickup trucks and vans – drop 11.4%to 271.108 units, improving their share from 64.6% a year ago to 67.3% in 2018. Passenger cars fall a steep 21.8% to 131.310 and 32.7% share vs. 35.4% a year ago.

Toyota (-16.6%) posts a 17th consecutive year in the Filipino’s pole position but falls slightly faster than the market to see its share thaw from 38.5% to a still ultra-dominant 37.9%, 2.3 times the #2-ranked brand, Mitsubishi (-6.9%) resisting well which results in a much-improved 16.4% share vs. 15% a year ago. Hyundai (-6%) also contains its fall to remain in third place at 8.8% but it’s Nissan (+39.8%) that posts a spectacular gain lifting it from #7 to #4 and 8.7%. Suzuki (+2.5%) is the only other Top 15 manufacturer to post a gain in 2018. In contrast Kia (-56.8%), Isuzu (-44.4%), Chevrolet (-32.5%) and Honda (-26.7%) all implode, as do BMW (-62.5%), Mercedes (-51.3%) and Lexus (-50.8%) further down.

Over in the models ranking, after a one-year hiatus the Toyota Vios (-29.9%) resumes its domination despite a steep drop, celebrating 10 wins in the past 11 years. Leader last year, the Toyota Fortuner (-41.8%) is knocked back to #2, while the Toyota Wigo (+10%) soars 4 spots to land on the third step of the podium. In fact, like in 2016 the Top 6 best-sellers are all Toyota nameplates: the Hilux (+24.5%) is up 6 ranks to #4 and both the Innova (-25.6%) and Hiace (-15.1%) are down two to #5 and #6 respectively. The Mitsubishi Montero Sport (-18.9%) is the best-selling non-Toyota model at #7, distancing the Nissan Navara (+114.4%), Hyundai Accent (-8.6%) and Mitsubishi Mirage G4 (-26.1%). Notice also the exceptional performances of the Mitsubishi Xpander (#11) and Toyota Rush (#14) both released during 2018 and landing directly inside the annual Top 15.

Previous post: Philippines First Half 2018: Toyota Vios back on top, first market drop in 9 years

Previous year: Philippines 2017: First win for Toyota Fortuner, 8th record year

Two years ago: Philippines 2016: Toyota Vios leads, Fortuner shines in 7th consecutive record year

Full Year 2018 Top 40 All-brands and Top 195 All-models vs. Full Year 2017 figures below.