{"id":320872,"date":"2023-01-17T11:20:00","date_gmt":"2023-01-17T03:20:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=320872"},"modified":"2023-01-17T12:15:36","modified_gmt":"2023-01-17T04:15:36","slug":"gtcap-toyota-market-share","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/gtcap-toyota-market-share\/","title":{"rendered":"GTCAP’s Toyota dominates PHL car market with 49% market share"},"content":{"rendered":"\n

Total vehicles sold in the Philippines reached 352,596 units in 2022, while more than 37,259 vehicles were sold in the month of December alone, the highest for 2022 and the highest in 5 years. The annual total was 31% higher than the 268,488 vehicles in 2021. Growth in vehicle sales was practically due to the 46% growth in commercial vehicle sales or an increase of 83,471 units compared to an increase of just 637 passenger vehicles. <\/p>\n\n\n\n

Toyota continued to be the brand of choice, as the GTCAP-backed carmaker cornered 49% of the market followed by Mitsubishi Motors Philippines\u2019s 15% and Ford Motor Company Philippines\u2019 7%.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Analysis and Recommendation<\/h2>\n\n\n\n

Auto sales in the Philippines has grown for the 2nd straight year since the pandemic and the 2022 total is just 5% shy of the pre-pandemic (2019) total of 369,941 units. This is nothing short of impressive especially given the backdrop of rising interest rates, unbridled inflation and the devaluation of the Philippine Peso. <\/p>\n\n\n\n

While the industry\u2019s performance is encouraging, the marginal growth in passenger vehicle sales is a cause for caution and confirms of our view that households will have yet to fully feel the effect of the sharp rise in the prices of goods in 2022.<\/p>\n\n\n\n

For Toyota and GTCAP, its dominant market share should allow the automaker to maintain its profitability and may even see an improvement in 2023 if the Philippine Peso can sustain its recovery throughout the year. <\/p>\n\n\n\n

We maintain our target price of Php 650.00\/share on GTCAP but see a run-up to P480.00 \u2013 P530.00 as realistic near-term target zone.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-320872","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/320872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=320872"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/320872\/revisions"}],"predecessor-version":[{"id":320890,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/320872\/revisions\/320890"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=320872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=320872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=320872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}