Record auto sales expected in Philippines

The new forecast – which reflects a 12.5-per-cent increase from the 320,000 units sold last year – was slightly higher than the 350,000-unit target issued by the Chamber Manufacturers of the Philippines Inc (Campi) earlier this year.
Campi members account for about 85-90 per cent of this forecast, Campi president Rommel Gutierrez said.
According to Gutierrez, the commercial vehicle segment, particularly sports utility vehicles, is expected to drive sales significantly higher this year, as it accounts for 65 per cent of total sales.
So far, the local auto industry has shown sustained growth performance, as the first six months of the year saw vehicle sales rising 27 per cent to 167,481 units from 131,465 units sold a year ago.
Gutierrez said the group was amenable to the proposed emergency powers that the Duterte administration was considering to help ease traffic in Metro Manila.
However, this should be done without having to compromise the local auto industry, especially since the government has just rolled out the Comprehensive Automotive Resurgence Strategy Programme, which offers 27 billion pesos (Bt20 billion) in incentives to boost local vehicle production, he said.
“Any regulation should be geared toward addressing traffic management, not on the regulation on the sale of motor vehicles.
“A vehicle has now become a necessity mainly because of traffic, but also because people can now afford it.