MOTOR vehicle sales continued to accelerate last month as stock availability and promotional activities offset the operational impact of a severe tropical storm, automakers reported on Friday.

A total of 40,003 units left showrooms in October, up by 1.2 percent from the 39,542 sold a month earlier, the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association said.

It was also 4.9 percent higher compared to the 38,128 units sold a year ago.

The result brought January-October automobile sales to 384,310 units, 8.9 percent more than the comparable period's 352,971.

"The increase can be attributed to good sales and good stock availability, neutralizing the effect of Typhoon Kristine on the operations of dealers nationwide last month," Campi President Rommel Gutierrez said.

With two months still left for 2024, automakers are just 83,990 units short of hitting their aggregate sales target of 468,300 for the whole year.

Gutierrez has said that automotive companies were optimistic of reaching the target, with a potential of reaching a record 500,000 units, especially after last month's staging of the 9th Philippines International Motor Show.

Commercial vehicles continued to drive overall sales with 29,959 units in October, 2.9-percent up from September's 29,104. This brought the 10-month tally to 283,501 units, 7.8 percent higher than the year-earlier 262,875.

Passenger cars, meanwhile, registered sales of 10,044 units last month, down 3.77 percent from 10,438 in September. The year-to-date count rose to 100,809 units, an 11.9-percent gain from 90,096 previously.

Toyota Motor Philippines Corp. continued to dominate the industry with 19,333 units sold in October, up 4.9 percent from 18,434 a month earlier. From January to October, its sales grew to 178,421 units, 10.0 percent higher year on year and equivalent to a 46.43-percent share of the market.

Mitsubishi Motors Philippines Corp. remained second with October sales of 7,348 units or a 2.2-percent decline from the previous month. The automaker has now sold 73,376 units year to date, 12.6 percent higher compared to 12 months earlier and enough for 19.09 percent of total industry sales.

Ford Motor Co. Philippines Inc. ranked third with 2,067 units sold during the month, down 16.6 percent from September. Ten-month sales totaled 23,505 units, lower by 9.6 percent than a year earlier for a 6.12-percent market share.

Rounding out the top five year to date were Nissan Philippines Inc. (with sales steady at 22,289 units and a 5.8-percent share of the market) and Suzuki Philippines Inc. (16,762 units, up 11.3 percent for 4.36-percent market share).